As house builder Crest Nicholson report a 76% rise in profits on the back of a bounce in the UK housing market, first time buyers can, for the first time since the recession in 2008, look forward to not owning their own homes for the next 25 years.
Mike Hunt, 45, a first time buyer from Burton on Trent, commented
'I was delighted to hear that the house builders are doing so well, they've had such a hard time of it in recent years, I really feel for them.'
'With the government backed Help to Buy scheme me and my four teenage kids can now afford to move out of dad's two bedroomed terraced house into a two bedroomed home of our own ...so to speak.'
Mike has been saving for the last ten years for his 5% deposit. Unlike so many others he is fortunate enough to have a job that pays the minimum wage with local employer Securinetforce UK.
A spokesperson for the company said
'It's great that Mike's got himself a deal, he's done so well to save up the deposit for a house on what we've been paying him.'
Local award winning site sales manager for Crest, Tammy Albright was also delighted
'With the help of the government backed Help to Buy scheme we've been able to sell Mike a new build house for a good 20% above the real market value, underwritten by Mike's second charge. A complementary bottle of Cava’s on it’s way to Plot 24 Mike. Enjoy!’
Mike and his family are now happily embedded in their new home.
'It's a win /win situation as I see it', he says ' I was fucked before and I'm fucked now, but at least dad’s spent some of the rent I’ve paid him on Crest Nicholson shares. And Tammy’s coming over tonight, that’s what I call dedication to the job…’