First Time Buyers having to rent, says North London Mortgage Broker, London Mortgage Advice Friday, 29th January 2010

It has been revealed, that the lack of mortgage finance that is available to first-time buyers is forcing the group into the rental market.
There has been a rise in the number of reluctant tenants, with 54 per cent of landlords stating that many consumers were being forced to rent, rather than buy, a property, new statistics from the Association of Residential Letting Agents (Arla) reveal.

Maybe renting at this stage could be best for people who need to adapt to changes in their working life as it give you the ability to change direction without being tied down with household chores and costs.

It is not necessarily any lack of mortgage finance that is the primary reason why first-time buyers are struggling to get on to the property ladder,it is the difficulty in raising the minimum 10% deposit coupled with the fact that job insecurities are preventing would-be homeowners from taking on the commitment of a mortgage.