A NATWEST boss, with a £763,000 salary was blasted over claims it’s not “that difficult” for people to buy a house – as he lavishes in a £2million pad.
Sir Howard Davies sparked outrage when he declared buyers just have to “save” and “that is the way it always used to be” – whilst he boasts a multimillion pound London Townhouse and Paris holiday home.
Branded insensitive and out of touch, the boss faced fierce criticism, including being dubbed an “entitled elite” with no clue about the “real world” by Nigel Farage.
The bank chairman resides in a wealthy neighbourhood, within a five-bedroom, four storey house complete with three living rooms, front and back garden.
He also reportedly enjoys spending weekends at a second property in the west country, according to neighbours.
Asked by the BBC when it will be easier to get on the property ladder, Sir Howard, 72, said: “I don’t think it is that difficult at the moment.
“You have to save and that is the way it always used to be.”
The NatWest boss spoke of how the 2008 financial crisis led to safeguarding against “dangers in very easy access to mortgage credit”.
He accepted there are people who are “finding it very difficult to start the process”, adding: “They will have to save more, but that is, I think, inherent in the change in the financial system as a result of the mistakes that were made in the last global financial crisis.”
Pauline, who lives close to the shamed Chairman told the MailOnline he had no right to comment because “he’s in a different league”.
“And it’s not that easy for people to buy these days because you need so much more for a deposit and things are generally more expensive,” added the disgruntled resident.
She slammed his “stupid and senseless” statements because “when you’re as rich as him, money is not a problem”.
Meanwhile, Michelle Lawson, who also lives nearby said Sir Howard was “out of touch with ordinary people”.
“It’s very hard to get on the property ladder especially in London if you’re on an ordinary wage,” she continued.
The local, who lives in a council flat, said comments from “people like him” make her “angry” because “they don’t know what life is like” for much of the nation.
Another baffled Brit, Alan Jenkins, thought comments from the Natwest boss were “a complete joke”.
The homeowner, who snapped up his flat in the 1990s said: “I’m nearly 60 now and don’t understand how anyone can afford to buy around here given how high property prices are.
“What Sir Howard said is a complete joke but I suppose if you earn as much money as him, it is easy to get on the property ladder.“
Sir Howard has since issued a statement in response to scathing criticism: “I fully realise it did not come across in that way for listeners and as I said on the programme, I do recognise how difficult it is for people buying a home and I did not intend to underplay the serious challenges they face.”
His comments came after property values were reported to have surged by 1.7% on average across 2023, with the average home valued £4,800 higher than at the end of 2022, according to the Halifax house price index.
Average house prices rose by 1.1% month-on-month in December, the third monthly rise in a row.
