First-time buyer mortgage misery for over a million young buyers.

Due to a limited supply of first-time buyer mortgage deals, well over a million young home buyers could find themselves lock out of the UK mortgage market by 2020.

A recent study conducted by the Joseph Rowntree Foundation has predicted that first-time buyer mortgage approval will become so tight, that around one and a half million more young people aged between 18 and 30 years old could be pushed into private rental accommodation by 2020.

This would mean that the number of 18 to 30 year olds living in private rental accommodation would increase to 3.7 million.

The fear is a three tier system could evolve, ranging from those who can comfortably afford to rent, to a middle section who struggle but manage to rent to a lower section who cannot afford to privately rent and are therefore excluded.

In effect this could mean by 2020 a further 81,000 young people between the ages of 18 and 24 could find themselves out on the street homeless.

The current trend for young property buyers to be locked out of the mortgage market, could to see the numbers of young home-owners falling to 1.3 million which is a drop of 1.1 million.

Deal Direct understand the difficulties that young people face when trying to source a first time buyer mortgage.

Our impartial advisers are dedicated to helping low deposit buyers source the best offers to enable them to climb on the property ladder.

First time mortgages remain on offer but criteria is strict, therefore we recommend you call one of advisers today for advice on how to climb on the property ladder. We will review your circumstances and recommend what we consider as the best product for you.

For first-time buyer mortgage advice and a personalize quote call Deal Direct.