FTBs struggle to save and buy

It is more difficult now than ever before for first time buyers (FTBs) to save for a pension because it is so expensive to get a foot on the property ladder.

That is according to Scottish Widows, which says that rising house prices and increasing debt are preventing FTBs from saving.

"It probably is harder these days. There are people having to pay off their student debt and it is also much harder to get a deposit down on a house these days too," said Ian Naismith from Scottish Widows.

"Many people will be paying out as much as they can afford through the mortgage. A lot of people do find it difficult to save now for their pension at all.

"Every generation would say they have their own problems but I think it probably is harder these days," he continued.

FTBs received some good news this month with the publication of the Nationwide House Price Index which showed that property prices fell by 0.8 per cent in November.

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