23rd September '08 - Secured Loans Could Finance A Home
Posted on Tuesday, September 23rd, 2008 at 12:35pm
Secured loans could help people buy a home, following the publication of figures from the Co-operative Financial Services which show buyers feel they need £19,100 saved to afford a house.
Renting is considered a waste of money by 54 per cent of buyers questioned, while 53 per cent say they sacrifice eating out now the credit crunch is upon the UK.
And half of the buyers claim they no longer go on holiday so they can afford a home.
The government and housing industry should offer clear products to help buyers "with the essential financial support needed to help them take their first steps onto the property ladder", says Victoria Drummond, operations manager of Ownhome, a scheme between the Co-operative Bank and Places for People.
However financial support is also needed for those looking at buying their second home, or even those considering investing in more property.
Further showing how people are saving money, 11 per cent of people surveyed say they have a second job to save for a house deposit.
Secured loans could provide those looking to buy a home with financial help in saving money to invest in or purchase another property.
Renting is considered a waste of money by 54 per cent of buyers questioned, while 53 per cent say they sacrifice eating out now the credit crunch is upon the UK.
And half of the buyers claim they no longer go on holiday so they can afford a home.
The government and housing industry should offer clear products to help buyers "with the essential financial support needed to help them take their first steps onto the property ladder", says Victoria Drummond, operations manager of Ownhome, a scheme between the Co-operative Bank and Places for People.
However financial support is also needed for those looking at buying their second home, or even those considering investing in more property.
Further showing how people are saving money, 11 per cent of people surveyed say they have a second job to save for a house deposit.
Secured loans could provide those looking to buy a home with financial help in saving money to invest in or purchase another property.
Bookmark with:
RSS Feed