11 Apr

Brits still aspire to own homes despite the barriers in place

Brits still aspire to own homes despite the barriers in place

Despite the plentiful barriers in the way of British people being able to get to an estate agents and make a purchase of their first home, many still aspire to take that step onto the first rung of the ladder.

According to the findings recorded by YouGov, some 79 per cent of people across the UK want to be able to buy a house within the next decade.

However, in spite of this large proportion, it was also reported that this had fallen from the figure of 81 per cent a year ago.

"We would nevertheless characterise the desire for home ownership as resilient, when viewed against the backdrop of protracted economic difficulties and a sharp decline in actual ownership rates," said the Council of Mortgage Lenders (CML), which commissioned the survey.

Some of the most significant barriers that have been in place include the fact that deposit levels have sat at 20 to 25 per cent of the value of the house purchased and stamp duty, a tax which can amount to anything between one and seven per cent.ADNFCR-1222-ID-801569989-ADNFCR

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