Debt problems could be hampering the efforts of many to get onto the property ladder. Research has found the number of first-time buyers taking out mortgages has reached the lowest level in 20 years. GfK Financial found that 347000 people took out home loans last year which is 100000 fewer than the previous low record in February 1993. Experts say prospective homeowners are struggling to raise sufficient deposits to get the best interest rates on the mortgage. Debt solutions like Individual Voluntary Arrangements (IVAs) could help free up more cash to put into their savings.
Debt problems stopping first-time buyers
April 26, 2010 By
