Pirate FM News

Keep up to date with the latest news delivered direct to your Inbox.

Cornish Families 'Trapped' On The Property Ladder

news - housing
Delicious Submit this page to reddit

7:01am 1st April 2013

Pirate FM has learnt some Cornish families feel trapped because they can not afford to buy a bigger home to have more children.

Figures show half of Duchy owners have been in their first house for more than a decade.

Almost one in five says it is worth less than when they bought it.

Redruth mum of one Stacie admits it is a struggle. She said: "For nearly a year we've been kind of thinking about moving, but it's just not feasible at the minute. We can't save up for a deposit. Food shopping's got more expensive, fuel's got more expensive. It costs that much more just to be able to get to work.

"There's very little equity in the house, so we're basically saving from scratch for a deposit just like a first time buyer would, except we've already got a mortgage."

That has sparked calls for the government to do more to help Cornish families stuck on the housing ladder.

Falmouth Estate Agents Mark Lewis, said: "Certainly the government could do more in terms of providing a loan for a deposit. Or encouraging more Housing Association shared equity to get people living locally that want to stay local who can't otherwise afford a full price mortgage.

"Whilst the property market probably hasn't increased in price since 2010, if wages aren't increasing there isn't the surplus to actually take the next step up the ladder. The cost of moving is quite expensive, with all the taxes, stamp duties."

7:01am 1st April 2013

Share This Story

Delicious Submit this page to reddit
Suggested articles
shelterbox mosul

PHOTOS: Cornish Aid Helping Families Fleeing War

Supplies from ShelterBox have arrived near Mosul


Cornish MP Leads Farming Debate

Scott Mann told parliament we need to be with them - not against them

Most read
Debbie Holden

Amanda Holden's Sister "Critical" After Cornwall Crash

Papers say Britain's Got Talent star has rushed to the Duchy to be with her

travis perkins

Job Losses At Building Supplies Firm With Branches Across Cornwall

We do not know which Travis Perkins sites will be affected

Top articles

Pirates Welcome Ospreys In British And Irish Cup

Cornwall News: The boss says they are ready to build on last week's victory

Pirate FM Cornwall News Update - 7th January 2016

Cornwall Video News: Officials say they’re holding talks to find new jobs for hundreds of workers in Bodmin.

Barricaded man held after armed standoff ends in west London

National News: A man who barricaded himself inside a house in west London has been held after police ended a three-day standoff.

Business Cornwall News - Friday, 18th December 2015

Business Cornwall News: Cornwall is spearheading reform of the Uk’s business licensing laws following a a year-long project.

Writer of Dad's Army and Hi-de-Hi! Jimmy Perry dies, aged 93

Showbiz News: One of the creators of comedy classics like Dad's Army and Hi-de-Hi!, Jimmy Perry, has died aged 93.

Coach and truck crash in Palm Springs, California, leaves 13 dead

World News: At least 13 people are reported to have died after a major collision between a coach and a truck on a freeway near Palm Springs, California.

Bangladesh hope for historic Test win

Sports News: Bangladesh need 33 with only two wickets remaining to secure an historic win over England in the first Test.

Soot-covered man rescued from chimney after losing his keys

Strange News: A man who locked himself out of his house had to be pulled to safety after he became stuck in his chimney trying to get back in.

Newer article

Disabled Cornishman Warns: 'I Can't Live On A Tenner A Day'

Cornwall News: Minister challenged to do the same as benefits changes hit

Older article

More Dogs Abandoned In Cornwall

Cornwall News: Animal welfare groups say numbers are up a quarter in a few months

Cornwall's Pirate FMPirate 2Pirate Oldies on DAB Digital RadioEscape to Cornwall radioLoveCornwall.com - The Cornish Business DirectoryPirate Education and Training


© Copyright Pirate FM

Pirate FM cannot be held responsible for the content of external links.


We Use Cookies

This website uses cookies to store information on your computer.

By using this website you accept the use of cookies as explained in the terms of our cookie policy.