A recent report in the national press highlighted the trouble that 1st time buyers are currently experiencing. In the main, this is predominantly down to the large deposits (as a percentage of house prices) which lenders are currently requiring prior to authorising mortgages for first time buyers.

In...

Due to the credit crunch, lenders (banks, building societies, etc...) are now requiring people to put down large deposits to secure mortgages. Typically, these are in the region of 20%-25% of the total sum required. To put that into perspective, for an average priced house of £160,000 this...