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Widows highlights plight of graduate FTBs

Over half of graduates are unable to get on the property ladder, according to research out today.

It found that 53 per cent of graduates are unable to buy their first home, that 62 per cent of graduate first time buyers bought with a partner – 68 per cent of whom would not have the ability to buy them out.

Almost one in ten graduates do not think they will ever be able to buy a house, while the average graduate first time buyer deposit is £16,219.

The research from Scottish Widows Bank showed that unaffordable house prices is the main thing preventing them getting on the ladder.

Scottish Widows Bank head of product development and marketing Murdo McHardy says: “Our report has yet again revealed that graduates are not finding it easy to get on the property ladder with house prices continuing to rise and first time buyers being unable to save for that deposit.

“Even for those graduates that are able to get on the property ladder, many are relying on buying with partners and are then not in the position to buy them out if problems arise.

“This leaves graduates in a real catch 22 situation – do they wait until they can buy on their own or do they buy with a partner when they are not quite ready? With no exit route in place, graduates need to be fully aware of the size of the commitment involved in buying with someone else.”


Standard plea over net business figures

Standard Life chief executive Trevor Matthews has called on pension providers to publish net business figures in their company results. The rallying cry comes as the industry faces criticism about churning and a misleading focus on new business figures. Matthews says he has been lobbying for insurers to publish the amount of business they lose […]

BM aims for one-hour remortgage completion

BM Solutions has pledged to provide instant completions on remortgages next year, as the technology battle in the specialist market hots-up. The HBOS lender says it will offer a completion on a further advance within an hour, where it already holds the customers’ details. Edeus and GMAC launched point-of-sale decisions this month, with BM likely […]

Osborne rejects calls for tax-cutting plans

George Osborne has rejected calls to cut taxes from the right of the party, claiming that there is “no such thing as a tax-cutting Shadow Chancellor”. Speaking at a Cicero Consulting and Policy Exchange fringe event on Sunday, Osborne said it would not make any sense to propose tax cuts three years before the party […]

Under the influence of providers

I disagree completely with Tenet Group’s Simon Hudson’s article (MM September 21). First, Mr Hudson’s ideas are based on the fact that no advisers are biased by commission. If this truly were the case, then life offices would not raise or reduce pension commission payments depending on whether they wanted to increase or decrease market […]

Investment clock economic update

In the latest Investment Clock economic update, Ian Kernohan, Senior Economist at Royal London Asset Management, discusses the implications of the US Federal Reserve’s recent hike in interest rates and upcoming French presidential election. The value of investments and the income from them is not guaranteed and may go down as well as up and […]


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