by Joe Walker

joewalker@thekmgroup.co.uk

First-time buyers struggling to get on the property ladder should ditch their “Posh and Becks lifestyle”, according to a Canterbury estate agent.

Scott Curtis, of Godwin Curtis in Castle Street, says youngsters are too busy splashing out on holidays and cars to save for a house.

His claims are backed up by new figures which show only four per cent of those dubbed “Generation Rent” are making sacrifices so they can save for a deposit.

He said: “It’s not the rent generation, it’s the entitlement generation.

“They expect it to be given to them on a plate while wasting money on luxuries like holidays and cars. They need to forget the Posh and Becks lifestyle and learn that sacrifices have to made.

“Getting a deposit together is doable, it just depends how much you want it.”

New statistics from building society Halifax reveal 76 per cent of prospective home owners in Kent believe they have no chance of ever buying a house.

But Mr Curtis says those figures reflect a British mentality, explaining how a young Polish couple beat the odds to buy their first home.

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He said: “They came in to see me about 18 months ago. He was working three jobs and 18 hours a day and she was juggling work with looking after a young child.

“Within a year they’d saved up £20,000 and bought a property for £155,000.

“It needed a bit of work doing to it, but now it’s worth £180,000.

“They did the right thing and made the sacrifices, but most British people don’t think like that. They want everything handed to them. Until that changes, the situation won’t change.”

Martin Burns, a financial adviser at Your Move in St Margaret’s Street, says the problem lies with credit ratings and high interest rates.

"they expect it to be given to them on a plate." - scott curtis

He said: “It’s hard enough and very impressive to save £20,000, but then you have to have a squeaky clean credit rating.

“They want the cleanest and the best without any blips. Even one missed credit card payment could harm your chances.

“Then if you’re accepted with a 10 per cent deposit you’d be looking at a fixed interest rate of six per cent, resulting in high monthly payments.

“It’s why so many people are renting.

"Without a big deposit or help from your parents, it really is tough at the minute.”