Research from a leading bank has shown that those employed as key workers in this country are now more likely to be able to afford a mortgage as the cost of buying a home has fallen.
Halifax bank revealed that key workers, like those who work as paramedics or for the fire service could now afford to buy property in 38 per cent of Britain.
Whilst that number may not seem high, it’s a huge rise on the three per cent of towns and cities in the UK they could afford to buy in last time the survey was carried out in 2007.
Whilst property was at its most expensive at that point, in 2001 key workers could afford to buy homes in 64 per cent of the country, a much higher area.
Housing Economist for Halifax, Nitesh Patel revealed, “Government schemes to assist low-cost home ownership are welcome, although it remains to be seen how big the impact on key workers will be.”