Post AdXPzo0R0J3M7CS0vo by tforcworc@todon.nl
 (DIR) More posts by tforcworc@todon.nl
 (DIR) Post #AdXPzo0R0J3M7CS0vo by tforcworc@todon.nl
       2024-01-05T13:17:28Z
       
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       average 40yr old savings are 15k. average house price is 290k.  typical deposit needed to get mortage, 10% = 29k; average income is around 33k. so average person cannot afford to buy an average price house. Natwest bank boss is a financial nitwit https://www.bbc.co.uk/news/business-67890334
       
 (DIR) Post #AdXPzozPLbpHAIyhyC by penguin42@mastodon.org.uk
       2024-01-05T14:11:23Z
       
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       @tforcworc Aren't that what the first-time buyer mortgages are designed for? (The Mortgage Guarantee scheme got it down to 5% - but that looks like it finished), and using average price is probably wrong since I assume 1st time buyers tend to go for the lower end?
       
 (DIR) Post #AdYNdY0hmzY9NtnQcS by kimbielby@mastodonapp.uk
       2024-01-06T01:19:39Z
       
       0 likes, 0 repeats
       
       @penguin42 @tforcworc Depends on the price of housing where you want to buy. My sister in law works in Edinburgh so that is where she bought her first property. It was your regular 2 bedroom flat, nothing fancy, but it cost more than £300k