It is common knowledge that the cost of living is high in London and that it is very hard for young people to get onto the property ladder. However, recent statistics from the Council of Mortgage Lenders indicate that first time buyers are managing to get loans for properties in the capital. Whether they are getting help from family to supplement their own savings to meet the requirements to get a minimum of a 10-15% deposit is unknown from the data but the research shows it is possible to buy a home in London and what type of property might be accessible.
Source: Britannia Sandersteads
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