Chewing the fat, shooting the breeze, having a natter - call it what you like, talking to people is darn important and everyone should do it as often as they can (except in libraries). We talk to our members as much as possible, through our blog and discussion board and by getting people to email contactus@zopa.com if anything's on their mind.

Having an expensive water feature in your glass-fronted, white marble lobby may make you feel good in the morning, but chances are it doesn't help the people who actually use your company. That's why the Zopa head office is pretty low-key, and the closest thing we have to a water feature is a tap.

Dec 19 2007

First time buyers facing deposit challenges

First time buyers will have to save the equivalent of two years' earnings to put down a deposit on a house, according to a report.

The research, by AWD Moneyextra, shows that the average first time buyer mortgage is now being sought at £133,943.

Robin Amlot, senior editor of Moneyextra.com, said: "The sharp rise in property values of those remortgaging may be an indicator of how the credit crunch is extending beyond the traditionally vulnerable sectors of society. At the same time we've also seen an increase of almost a fifth (18.8 per cent) in the average value of secured loans being sought over the last 12 months."

He added that the outlook for the mortgage market next year is "fairly grim" and while interest rates will be significantly lower in 12 months time "we may have an uncomfortable journey getting there".

Research from Halifax recently revealed that the number of first time buyers has dropped to its lowest point since 1980.

© Adfero Ltd

This entry is filed under Mortgage lending.

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