Its not a ladder at all. The average age of first time buyers is 34 and they have to really stretch themselves on a mortgage when interest rates are the lowest they have ever been just to get a starter place.
I really can't see how many will move into bigger and better places.
My friend has just spent 150k on a tiny studio in croydom with a damp problem and a 25 year mortgage. She thinks she will move up the so called ladder, but I really don't see how. Her mortgage payments are 40% of income and she has NP Dependants.
Please or to access all these features
Please
or
to access all these features
AIBU?
to think the term property ladder should be retired
19 replies
suziepra · 15/08/2014 13:02
OP posts:
Please create an account
To comment on this thread you need to create a Mumsnet account.