Stop buy-to-let tax breaks to help first-time buyers

Michelle McGagh
Buyer outside estate agent
Buyer outside estate agent

Property and its price are a particularly British fascination, but for generations of people owning property has become a very distant dream.

Despite the financial meltdown in 2007, the average price of a property in the UK still stands at just over £200,000 but the average wage in Britain is just £26,000. If you work to the principle that you shouldn't borrow more than three times your salary to fund a mortgage, a homebuyer needs a deposit of £125,000. Not very realistic is it.