Leeds locals reflect on the first-time house buying market.
Category
đź—ž
NewsTranscript
00:00 About 30 years ago you could get a 100% mortgage, but what it didn't prove to the lender was
00:08 that you were capable of saving. If it was something like 3% that you had to put down,
00:14 because it got to 20%, it's like ÂŁ30,000. Who can save ÂŁ30,000 this day and age?
00:22 I think getting on the property ladder now, I think that a lot of parents are just saying,
00:26 "Right, let's turn the garage into the fifth bedroom because the kids aren't going anywhere."
00:31 It's appalling. It is absolutely appalling that we have to do that.
00:34 My son's come out of the army and his partner, she's a teacher, they've just bought the house
00:41 with no troubles, obviously they're both good earners. So they got it with no... they found
00:46 the house, they bought it.
00:47 Helping first-time buyers with the whole process, both financially and also some type of guides
00:53 from banks would be really, really helpful.
00:55 I can't ever remember the price of houses going down.