Property ladder may be 'out of reach' for graduates
Published: 10-Apr-2008
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Due to the current turbulence in the UK economy, students who come out of university "saddled with debt" will face even greater hardships in trying to purchase property.
That is according to Alistair Lomax, executive director of registered charity UNIAID, who said that "it's going to be very difficult" for graduates to get themselves onto the property ladder.
This could serve to increase demand for private rented accommodation, spelling good news for buy-to-let landlords.
Ms Lomax commented: "If you're coming out of university saddled with debt, and if lenders are more risk-averse … and the cost of property is so huge, then it's going to be very difficult.
"We're concerned that students are going to find it more difficult to borrow money to get on the bottom rung of the housing ladder - which already may be out of reach."
Total mortgagelending fell by 3.5 per cent between January and February this year, according to the Council of Mortgage Lenders (CML).
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