So, how can Ad Hoc help? Ad Hoc ensures that vacant properties are protected from threats such as squatting, asset stripping and other anti-social behaviours through responsible, live-in Guardians. From a Guardian’s perspective, they benefit from being able to live in unusual properties for far less money than your average deposit, therefore potentially saving enough for a deposit within 2-5 years.

During the 2015 election as part of the Conservative manifesto, 200,000 new build starter homes were promised by 2020 to help people to get on the property ladder. Recently these plans have been criticised as the money that has been set aside realistically is only enough for 60,000 new homes.

Not to mention that new builds can be up to 40% more expensive than existing builds of the same quality, so there’s doubt over whether these homes will even be affordable for first time buyers. First time buyers are financially stuck as average deposit prices rise more than average earnings every year. Take a couple earning the UK average of £25,000 each; they spend the UK average of £892 per month on rent which is increasing around 9.9% every year. Even if they look to save 20% of their income, that’s still £10,000 between them by the end of year one.

At present, Halifax states first time buyers need at least a £33,000 deposit (more than double what was needed 10 years ago!) This is likely to be more if purchasing one of the Government’s new builds. You may think that the couple should have this in 3-4 years. However deposit prices are rising more than the average earnings every year. Therefore first time buyers are left chasing housing prices that are forever becoming less affordable.

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