First mortgages 'hard to get for countryside homes'

24-Jun-2010

Published by Joshua Scott

First mortgages for property in the countryside are unattainable for many people, it has been said.

According to the Countryside Foundation for Education, many individuals born in rural areas cannot afford to get on to the housing ladder because of the high deposit required for first mortgages.

Instead, many homes in the countryside are bought by people born outside the property's location, chief executive of the organisation Gary Richardson said.

He stated there are parts of the country "where the house prices have made it absolutely impossible for the local people, who have perhaps been born and bred in the area, to get a foot on the property ladder".

The difficulty surrounding first mortgages for rural homes has been recognised by communities, planning authorities and local councils, which realise affordable social housing is required, Mr Richardson added.

April's House Price Index published by Communities and Local Government showed property values were up by more than ten per cent when compared to the same month last year.

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