NatWest boss: It’s not that difficult to buy a house in Britain

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The chairman of NatWest has claimed it’s “not that difficult” to get on the property ladder in the UK.

Sir Howard Davies mentioned that folks “will have to save more”, however that “I don’t think it is that difficult at the moment”.

He made the declare on BBC Radio 4’s Today programme, main exasperated presenter Amol Rajan to say: “To buy a house? In this country? Are we living in the same country, or are you reporting from overseas?”

But, defending the declare, Sir Howard mentioned: “You have to save and that is the way it always used to be.”

He added: “What we noticed in the monetary disaster was the chance of getting folks having the ability to borrow 100 per cent in order to get onto the property ladder, after which struggling extreme falls in the fairness worth of their homes, and having to depart and having a very bad credit report.

“So, there have been risks in very easy accessibility to mortgage credit score.

“So, I totally recognise that there are people who are finding it very difficult to start the process, they will have to save more, but that is, I think, inherent in the change in the financial system as a result of the mistakes that were made in the last global financial crisis.”