Property ladder tougher for FTBs

One in three FTBs are prepared to live in a less than fashionable area and one in fine are happy to live next to a cemetery if they think they can get on the property ladder. According to research by Yorkshire Bank, the pursuit has become so desperate that 37 per cent of FTBs would consider moving o a home that needs renovating or extending.

Gary Lumby, head of retail at Yorkshire Bank, said: “Although living in a less than fashionable area or a less than perfect house may not be the dream home first-time buyers have in mind, building up equity and adding value can help make their entry to get onto the property ladder very worthwhile.”