60 years to save for a mortgage
Posted on November 25, 2016
Recently published research has found that the average Londoner will need to save for a minimum of 60 years for a deposit to purchase a property in the capital.
Asking prices have risen 8.2% for first time buyers with the average in London being a staggering £490,000 for a first home. After an 85% increase in property values within the last five years the market doesn’t show any signs of slowing down soon.
With the cost of living soaring and the rental market at an all time high how does the regular worker get a foot on the ladder if they don’t have access to the bank of mum and dad?
Many are turning to guardianship as a temporary solution.
By living as a property protector people are able to pay 60% less then the market value enabling them to save more of their hard earned money. Prices are as little as £400 per month including bills for rooms in properties. Rooms are larger than the private market equivalents as a majority of buildings are converted former commercial units.
It provides an alternative way of living in unique properties in sought after locations. Guardians have the chance to live with other like-minded professionals in fantastic communities.
With no signs of the housing crisis easing Guardianship is becoming the option for affordable living.