WITH rocketing interest rates and inflation at a 40-year high, getting on to the property ladder may seem harder than ever – but it can be done.
In the Noughties Rachel Ollington was so obsessed with buying her own home that she did all she could to make it happen – despite mortgage rates being as high as seven per cent, around half a per cent higher than they are now.
She says: “Young people may be despairing at the thought of trying to get on to the property ladder, but it isn’t impossible.
“When I was buying my first home, mortgage rates were higher than now.
“Growing up, money was tight. Any extra cash after paying the bills was saved for Christmas or birthdays so I know how it feels.”