There is a certain irony that the financial crisis of the last 2 years originated with mortgage related products, and that as the employment market in London begins to return, that home affordability and cost of living may be seen by some as a barrier to entry for new talent in the London market.

Of the 350,000 employees in London, not everyone is employed in the high bonus paying positions that have been hitting the headlines recently. Some employees at the earlier stages of their career, attracted by the intellectual challenge and dynamic nature are also able to consider opportunities in international locations with favourable tax conditions.

It is therefore encouraging today to see that Santander is offering hope to first time buyers today by offering a 90% LTV mortgage product.

If other lenders follow suit we could see the banks making a concerted effort to use mortgages as a tool to make property ownership for career-minded new City employees more attainable.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article7038538.ece

banks, Careers, london job market, mortgage, tax jobs