Hefty deposit for first time buyers

Story link: Hefty deposit for first time buyers

If the government does not start to force banks to lend, you will see banks tightening their lending criteria for first time buyers even further. I have already heard of many mortgage deals being tied in to a 30%+ deposit upon completion, which is a huge amount, especially for a first time buyer.

Hefty deposit for first time buyers

Some 38% of those already saving towards a deposit say they are looking to increase the rate at which they put their money away in 2009.
Meanwhile, 40% of those without any form of deposit stated that they had now decided to start saving this year.