Credit crunch to quash graduate aspirations
The credit crunch runs the risk of pricing many graduates out of the property market, it has been suggested.
Student finance charity UniAid said that the combination of soaring house prices and tightened lending criteria is proving lethal for a large number of recent graduates.
The situation is apparently so dire that young professionals are being stopped from getting on even the lower strata of the house ladder, forcing many to remain in rented property for longer than they had planned.
"If you're coming out of university saddled with debt, and if lenders are more risk-averse… and the cost of property is so huge, then it's going to be very difficult," asserted UniAid executive director Alistair Lomax.
"We're concerned that students are going to find it more difficult to borrow money to get on the bottom rung of the housing ladder - which already may be out of reach."
Recent research by the debt charity found that seven out of ten six-form leavers say their biggest concern about higher education is debt.
Published 9th April, 2008
© 2008 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
St John's Wood brings the village atmosphere to the capital
St John’s Wood is a great location for people looking to capitalise on all the benefits of London living without being caught up in all the hustle and bustle.
Read Article ... Published on 26th May, 2015
Yeading: Enjoy peaceful city living in an up-and-coming area
Yeading is a laid-back and peaceful residential area situated north-east of Hayes and is one of the most up-and-coming areas of the capital.
Read Article ... Published on 26th May, 2015
Hanwell: A green, peaceful environment for Londoners
Hanwell is a small town located in the Borough of Ealing and is in between Ealing and Southall, providing excellent transport links to the rest of the capital.
Read Article ... Published on 26th May, 2015
Mitcham Carnival announced for June
Mitcham Carnival has been announced for Saturday June 13th at Three Kings Piece.
Read Article ... Published on 22nd May, 2015
Hammersmith and Fulham Council start Park consultation
Hammersmith and Fulham Council have launched a new consultation on Hammersmith Park, inviting local residents to have their say on the area and how it can be improved.
Read Article ... Published on 22nd May, 2015
New conservation areas planned around Waltham Forest
Waltham Forest has announced plans for two new conservation areas near Lloyd Park and Bakers Arms town centre.
Read Article ... Published on 20th May, 2015
Sutton Council announces Take Part Take Pride summer festival
Sutton Council has announced its Take Part Take Pride summer festival.
Read Article ... Published on 20th May, 2015
Brent Council teams with Brent Housing Partnership in new project
Brent Council has partnered with the Brent Housing Partnership as it aims to improve the standard of housing for local people.
Read Article ... Published on 19th May, 2015
Gardeners prepare for Islington In Bloom
Islington Council is preparing for this year’s “In Bloom” event by teaming up with local gardeners to identify the best greenery available in the area.
Read Article ... Published on 15th May, 2015
New fitness centre set to open in Manor Park
A new fitness centre is expected to be opened in Manor Park by Newham Council.
Read Article ... Published on 15th May, 2015
The credit crunch runs the risk of pricing many graduates out of the property market, it has been suggested.