29
Jul
Britons fret about homeownership
A significant number of Britons believe homeownership will always
be out of their reach, according to a new survey by
Moneysupermarket.com.
In news that is likely to please buy-to-let investors, a quarter of
respondents in the poll admitted that they do not think they will
ever own their own home, although they would all like to.
A further 11 per cent said they would never purchase a property out
of choice.
Louise Cuming, head of mortgages at the website, described the
results as "deeply concerning".
She noted that rising inflation and tighter mortgage lending
conditions have made a dent in consumer confidence.
"Owning your first property used to be a rite of passage, but
nowadays the challenge is to save enough to cover the deposit,
stamp duty and fees not to mention the worry of affording the
mortgage," Ms Cuming stated.
In a bid to improve the situation for first-time buyers the
government has announced a Rent to Home Buy scheme, which includes
a number of measures to open up the housing market to those
stepping onto the property ladder for the first time.
