it`s a vicious circle

say you wanted to buy a house in anywhere in Norfolk, you want get much for less than ?120k. Most bank now want a 25% deposit which is about ?30k.

Not many people can come up with that kind of money so the alternative is private renting where you won`t get much for less than ?500 a month.

So you can end up trapped paying someone else`s mortgage for them and will probably never get to save up for that deposit.

I don`t know what the answer is. What I do know is that I grew up in a Council house as did most people back then. Next we had the right to buy which many people took advantage of. The trouble was that as Local Council housing stock was taken out of circulation it was not being replaced .

There is much more to it all but that`s just my simplistic answer.

Posted By: emmaroyds, Oct 7, 18:58:25