Howard Davies criticised as being ‘out of touch’ as number of first-time buyers is at lowest level in a decade

The chair of NatWest has claimed it is not “that difficult” to get on the property ladder, despite the number of first-time buyers with a mortgage falling to the lowest level in a decade.

“I don’t think it is that difficult at the moment,” Sir Howard Davies told the BBC.

Pressed about this assertion, he added: “You have to save, and that is the way it always used to be.”

His comments to Radio 4’s Today programme follow a report published earlier this week by Yorkshire Building Society, which found that the number of first-time buyers who bought a home with a mortgage fell to the lowest level in a decade in 2023.

  • breadsmasher@lemmy.worldEnglish
    31·
    6 months ago

    According to Company Checker, Sir Howard Davies is worth an estimated $5 Million USD in the last financial year, which included residuals made through his previous academic publications.

    The Economic Research Institute has also claimed that Sir Howard Davies receive an annual salary of £763,000 in total compensation as Non-Executive Director and Chairman of the Royal Bank of Scotland, with Natwest a subsidiary of the overall company structure

    Yeah his opinion on normal people trying to first time buy a house is irrelevant. Entirely out of touch from the real world