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Govt must help FTBs access mortgages to get on the property ladder

By Jonathan Dawes, Wed 14 Sep 2011 - Published in Mortgages

The government must do more to make it easier for first-time buyers (FTBs) to access a mortgage and get onto the property ladder, it has been claimed.

According to PricedOut.org.uk, the coalition must focus on the long-term objectives of building more homes, as well as making it easier for people to buy dwellings.

The organisation added that the government must learn from the mistakes made during the last property price boom to ensure there is not another crash again.

Katy John, press officer at the website, said: "We would encourage FTBs to save as much as possible to enable them to get the best possible deal when buying their first home."

The Council of Mortgage Lenders recently reported that during July this year the number of mortgages approved for FTBs fell by two per cent.

On top of this, the average loan-to-value home loan for FTBs in the UK remained at 80 per cent.