22 Friday, 26 June 2009 London Lite Return of first-timers by bo wilson Youngbuyersinhomesmarket again...butneed40kdeposits GUY RITCHIE enjoyed spending time with his sons as he took them to see Peter Pan last night. He hauled adopted David Banda, three, onto his shoulders and the pair shared a bag of sweets at the play in Kensington Gardens. Director Ritchies other son, Rocco, eight, brought a friend along for the treat and a small girl and two adults joined the party. The boys also spent last weekend with their dad, 40, in his Wiltshire home after flying in with his ex-wife, Madonna. OnlyPancan fly,butDavid ishighonGuy YOUNG professionals are leaping onto Londons property ladder for the first time since the credit crunch started. Estate agents say they have seen a surge of high-earning first-time fliers with huge deposits keen to take advan- tage of the 15-25 per cent fall in prices. Many are backed by ICI Parents -- investing their childrens inheritance rather than spending it or depositing it in bank accounts earning 0.5 per cent interest. First-time buyer hot spots include Kensal Rise and Kensal Green, Hackney, Oval, Dulwich, Tooting, Abbey Mills near Wimbledon, and Brook Green in Shepherds Bush. But banks still refuse to lend to most first-time buyers with a deposit of less than 10 per cent, and often less than 25 per cent. That means, in London, first-time buyers need at least 40,000 up front to have a good chance of securing a home. Peter Rickenberg, managing director of estate agency Bective Leslie Marsh, said: The first-time buyer has been a mythical creature for the past 18 months. Now theyre back, but it tends to be the more privileged blue chip type who are on high earnings for their age. Stewart Boyd, from Winkworths in Willesden Green, said the last four flats he had sold in the 290,000-320,000 bracket had gone to first-time buyers with huge deposits from parents or inheritance. Well I never- never! David and Guy Ritchie at Peter Pan last night index.html2.html3.html4.html5.html6.html7.html8.html9.html10.html11.html12.html13.html14.html15.html16.html17.html18.html19.html20.html21.html22.html23.html24.html25.html26.html27.html28.html29.html30.html31.html32.html33.html34.html35.html36.html37.html38.html39.html40.html41.html42.html43.html44.html45.html46.html47.html48.html49.html50.html51.html