Steady increases in UK house prices is  great news for those already on the property ladder but a source of depression for those trying to buy property for the first time. A recent survey indicates that even those with the greatest potential to earn higher salaries cannot get a foot hold on the property ladder. 
 
 
 
 
 
The third annual Scottish Widows survey into the home buying prospects of university graduates under 40 reveals that 53% will be unable to purchase their own property in the near future and one in ten believes they will never be able to.
 
 
 
Despite increased initiatives for first-time buyers, the study has painted a worsening picture of life for would-be graduate homeowners, with 2% more reporting they could not buy compared to a year ago.
 
 
Group buying of a home seems to be the only way forward for those stepping onto the property ladder. Head of mortgages at HSBC, Carina Kemp, says: "At HSBC we have seen a 50 per cent increase in group mortgage applications this year alone. More and more people are getting round high property prices by clubbing together with friends or family to buy a home and this is a trend which we expect to continue.
 
 
 
 
Most group buyers opt to become "tenants in common" which means that each party holds separate shares in the property. This should take into consideration how much each party is putting into the property, both in terms of the deposit and the monthly mortgage payments
 
 
Six out of ten graduates believe they did not earn enough to buy a home and a third unable to save for a deposit .
 
 
Group buying maybe the key to the door for the graduate wanting to buy thier own home . 

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  1. avatar
    Carol McDonald