New research has found that deposits for first time buyers are set to rise by nearly 60 per cent by 2027.
According to the data, compiled by L&C Mortgages, the sharpest increase will be in London, with the average deposit estimated at becoming nearly £245,000.
In Leeds it is expected that in the same time frame the deposit needed will rise by 50 per cent, from £29,589 to £44,252.
David Hollingworth from L&C said: “With this research predicting that the size of deposits required could rise considerably across the country, first-time buyers could be forgiven for giving up hope on owning their first home.
There is some stark variation between cities but the fact that London deposits could be almost hitting a quarter of a million pounds by 2027 is alarming. It makes sense for first-time buyers to try and raise as big a deposit as possible but that is very much easier said than done in today’s current climate.
Although there are mortgage deals available to as much as 95% of the property price, rates on these types of deals will be higher than for those who have saved a larger deposit. Given the level of commitment that first-time buyers are having to make it’s of little surprise that they are often electing to fix their mortgage rate, so they know where they stand with their mortgage payments.”
A 36-year-old man has been charged with attempted murder following a stabbing at Angel Central shopping centre in Islington, where two other men were shot during the same incident. One shooting victim suffered life-changing injuries, while police continue searching for the gunman.
Greater Manchester Police have arrested two more men as part of a major investigation into alleged financial irregularities at the University of Greater Manchester. Detectives are examining suspected fraudulent activity worth more than £1 million, involving approximately 60 transactions and over a million emails.
A florist in Wibsey, Bradford, has been targeted by a burglar just weeks after its new owner took over the business. Scentiments, on St Enoch's Road, suffered a smashed window and damage to its till during the early-hours break-in. Police are investigating and have collected evidence from the scene.
A 26-year-old Bradford woman has been sentenced to 10 years in prison after causing the death of her 20-year-old passenger in a high-speed crash on the M62. Humaira Batool reached speeds of up to 143mph in a hired Lamborghini Urus before losing control in wet conditions, killing Mohammed Shaan Hussain.
Residents near Queen's Park station in West London say their homes are developing serious cracks and suffering subsidence following HS2 tunnelling work. Emergency scaffolding has been installed at one property, with some residents relocated. HS2 says ground movement from tunnelling has been small and that unusually dry weather may be contributing to the damage.
A 51-year-old man has suffered potentially life-changing injuries following a serious assault on a bus in Uxbridge, West London. Police are investigating the incident, which happened on Belmont Road on Monday afternoon, and are appealing for witnesses.
A man and woman, both aged 68, have been charged following an investigation into historical child sexual abuse in Bradford. The allegations relate to offences involving a 14-year-old girl in the Thorpe Edge area during the late 1970s.
A 36-year-old man has been found guilty of raping a woman in the Hyde Park area of Leeds. Uvesh Vahora was convicted following a trial at Leeds Crown Court and has been remanded in custody ahead of sentencing on 11 November.
New research from the This Girl Can campaign reveals that 54 per cent of women in London feel unsafe exercising outdoors alone after dark. Concerns about harassment and intimidation are forcing many women to change their fitness routines, with a London running club planning additional group sessions to help women exercise safely during winter.
A 40-year-old woman has been left with life-threatening injuries following a stabbing in Buttershaw, Bradford. A 42-year-old man has been arrested on suspicion of attempted murder and possession of an offensive weapon as police investigate two linked scenes.
A Bradford woman convicted of causing her friend's death in a 140mph Lamborghini crash on the M62 has been arrested at hospital after failing to attend her sentencing hearing. Humaira Batool, 26, has been remanded in custody and is due to be sentenced today (3 November).
Six men with connections to London feature on the National Crime Agency's most wanted list, including suspects linked to major drug trafficking investigations, alleged holiday fraud and money laundering. The NCA is appealing for information to help locate those wanted in connection with the investigations.
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Man Charged After Islington Shopping Centre Stabbing as Police Hunt Gunman
Two More Arrested in £1 Million University of Greater Manchester Fraud Investigation
Bradford Florist Burgled Just Weeks After New Owner Takes Over
Bradford Woman Jailed for 10 Years Over Fatal 143mph Lamborghini Crash
West London Homes Cracking as Residents Blame HS2 Tunnelling
Man Seriously Injured in Uxbridge Bus Attack
Two Charged Over Historical Child Abuse in Bradford
Man Convicted of Rape in Leeds Hyde Park Area
Over Half of London Women Feel Unsafe Exercising After Dark
Woman Fighting for Life After Bradford Stabbing
Lamborghini Crash Driver Arrested at Hospital After Missing Sentencing
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