Tuition fees rise to lead to "housing crisis"
Young aspiring property owners leaving university could find that they may not be able to make repayments on a mortgage due to higher tuition fees, according to one expert.
Johnny Rich, editor of Push.co.uk - an independent university guide - warned that the 40 per cent of school leavers heading to study in higher education might struggle to be approved for a home loan, because of increased student debts to pay for their course.
"If we have an entire generation of our society who are unable to buy houses because they have such massive debts when they leave university, we will see a housing crisis," he said.
This week, universities minister David Willetts cautioned against an increase in tuition fees, as it could have a negative impact on the UK economy and the Treasury would struggle to sustain the rise in student loans.
His comments about the potential effects of higher tuition fees on a university leaver's ability to get a mortgage may encourage more young people to consider looking for property to rent in the London borough of Harrow or elsewhere in the country.
By Andy Britten
Published 11th June, 2010
© 2010 Estates IT Limited
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More young people may be encouraged to look for property to rent in the London borough of Harrow or elsewhere in the country after an expert on student finance suggested that increased tuition fees would lead to fewer university leavers taking out mortgages.