New Figures Reveal It Takes On Average 8 Years To Save A Deposit For A Mortgage

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Figures have shown that on average it takes first time buyers 8 years to save for a deposit, which means that they are being forced to rent for longer even though house prices are dropping.

There has been an increase of 40 % in the amount of people looking to rent a property over the last year and this is because people are finding it difficult to save for a reasonable mortgage.

Even though house prices dropped by 0.3% in February, the average amount needed for a deposit is £34,000.

Click on the link below to read the article in full on The Telegraph website:

Eight years to save for a deposit as first-time buyers forced to rent for longer

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