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Mortgages Not To Be Available To Everyone Says An Expert

Not every UK property owner should be able to access a mortgage, according to one expert who has pointed out that owning a house should not be viewed as a person's right.

Catherine Hearnden, director at MyMortgageDirect, said that many people believe that it is their right to own a home, but this is not the case in many European countries and the same belief should therefore not be held in the UK.

Her comments followed the publication of a report by Citizens Advice, which showed that the number of under-25s seeking help with benefits and housing issues is rising, with enquiries up 14 per cent in 2010/11 compared with 2009/10.

According to Ms Hearnden, the government does not necessarily need to act to ensure that owning a home remains realistic for the average person. She believes that owning a home will always be an increasing demand and satisfying everyone's demands is not applicable. She further explained its not a right its ones desire to own a house.

"It depends on whether we think it is a right to own a property - I don't think it is a right. In many countries in Europe and around the world, no one sees it as a right; they see it as an aspiration," she explained.

The expert added that there is a lot to be said for saving for a deposit, as this used to be mandatory before the advent of 100 per cent mortgages.

As far as making property ownership affordable for everyone, she explained that not everyone is in this position and so the option should not be open to every person.

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