Financial conditions 'could keep graduates off property ladder'

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It has been claimed that the current state of the global economy may mean that many graduates will struggle to get onto the property market in the near future.

UNIAID, a charity that provides advice to students on debt issues, has stated that as former students head out of university "saddled with debt", it may mean they will struggle to find a lender willing to give them a mortgage.

Alistair Lomax, the executive director of the organisation, explained that this may happen due to the credit crunch making many providers more risk-averse.

"We're concerned that students are going to find it more difficult to borrow money to get on the bottom rung of the housing ladder – which already may be out of reach," he added.

According to figures released by the Council of Mortgage Lenders, total mortgage lending fell by 3.5 per cent in February compared to figures for the previous month.

The research also found that the total amount borrowed stood at £25 billion, while loans for house purchase also declined in volume by 3.5 per cent.

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