Pubs prove popular alternative for first time buyers

09-May-2005

First time buyers looking for a different route into the property market are increasingly turning to pubs, it has been revealed.

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But rather than consoling themselves with a drink, many aspiring homeowners are buying their own pubs to avoid increasingly high house prices.

While many first time buyers struggle when finding a deposit for a house because of the high prices around the country, pubs have remained at relatively reasonable levels, and as such many aspiring first time buyers are opting for the change of lifestyle.

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Speaking to London's Evening Standard, Giles Thorley, chief executive at Punch Taverns - the UK's second largest pub company - revealed that there has been an unprecedented demand for pubs in recent months.

Punch's website offers a range of options for owning a pub, and Mr Thorley commented: "Applications are flooding in."

While warning potential first time buyers that running a pub can be a "very stressful" lifestyle, the change could give them an innovative way of getting onto the first rung of the property ladder.

Click here for advice on first time buyer mortgages or to find out how much you can borrow and how much it will cost you, from the UK's leading High Street Brokers, Bradford and Bingley

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