16 Aug

First-time buyers sacrifice happiness

First-time buyers sacrifice happiness

Many first-time buyers could be sacrificing their happiness in order to step on to the property ladder.

A survey conducted by L&C Mortgages found 1.8 million Brits have stayed in a relationship to purchase a home and 11 per cent of all non-property owners would consider staying in a relationship if it resulted in a house purchase.

It was revealed 63 per cent of those planning to buy feel under pressure to become homeowners, while 36 per cent feel under pressure to buy due to their partner.

“The fact that so many people view staying in a relationship they perhaps don’t want to be in as one of their only options for getting onto the housing ladder is indicative of the struggle people face when buying their first home,’ said David Hollingworth from L&C Mortgages.

‘With such large sums needed for deposits and combined salaries often the only option to achieve the required mortgage, the temptation to stay with a partner is understandable. In the UK, we place a great deal of importance on owning our own home, and of course buying property is one of the biggest financial moves you can make but it isn’t right that people are sacrificing their emotional wellbeing in order to focus on financial stability,” he added.ADNFCR-1222-ID-801838929-ADNFCR

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