property ladder.According to Rightmove, it looks as though Brits need a deposit as hefty as £74,000 to be in with a chance of bagging their first home.The news comes as house prices continue to increase across the UK.
It's said youngsters struggling to get on the ladder has nothing to do with them overspending (or, at least, not totally) as the deposit required to get a suitable mortgage has gone up massively over the past decade.The deposit figure has been provided by Rightmove, which examined the example of a single buyer on the average wage having the ability to lend a maximum of 4.5 times their salary to purchase the average first-time buyer home, which is estimated to come in at around £223,117.
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