FTB access 'is very important'
20th Apr 2012
It is very important that young people are able to afford their own property in rural areas, according to the English Rural Housing Association.
Martin Collett, operations director at the organisation, said that if first-time buyers (FTBs) cannot access the housing market, they move to urban areas where there may be more affordable accommodation and leave behind their family and friend networks.
"In terms of the sustainability of rural areas, it is very important that local households have access to properties that they can afford," he added.
In some cases, there are households where the current rental market is not right for them and they aspire to ownership.
However, because of the lack of access to an affordable homeownership product, they are forced to move to urban areas and commute to support their family, to visit friends and to work.
Addressing these issues and ensuring that there is affordable property in the areas where they were born is therefore essential, he noted.
It comes after the Council of Mortgage Lenders reported that lending to first-time buyers and increased in February.
Overall, 14,100 loans worth £1.7 billion were taken out by FTBs, which is up eight per cent by number and six per cent by value from January, and up 18 per cent by number and 21 per cent by value on February 2011.
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