You are here: Home - First Time Buyers - News -

Buying a house seen as bigger commitment than marriage

0
Written by:
14/11/2012
For the nation's 25-34 year olds, buying a property with a partner is a bigger commitment than getting married.

According to Halifax’s State of the Nation: Mortgages research, there is a difference between the ages when it comes to homebuying with partners – only around one in four (28%) 25-34 year olds were married when they bought their home with their partner, compared to nearly three in four (73%) 35-44 year olds.

The research also highlighted that four out of five homeowners believe they would find it harder to get a mortgage if they were looking for their first house now.

There is a gap between the sexes when it comes to mortgage payments; over 1 in 10 women pay more than half their average income on their mortgage, compared to only 1 in 20 men who pay the equivalent amount.

Stephen Noakes, mortgage director, said: “It is interesting to see how different age groups see the market differently.

Those aged 25-34, who in the majority of cases would have been buying their first house during or after the financial crisis, have clearly been affected.

“The fact that theirs is the only generation that thinks buying a home with someone is a bigger commitment than getting married speaks volumes.”

Interestingly, the survey also found that a quarter of 18-24 year olds who own a home own it outright – a higher percentage than 25-34, 35-44, and 45-54.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Revealed: The winners of the Your Mortgage Awards 2020/21

Find out which mortgage lenders offer the best products and services in a highly competiti...
Revealed: The winners of the Your Mortgage Awards 2020/21

Get your head around mortgage fees

The mortgage fees associated with taking out and paying off a mortgage have tripled in the...
Get your head around mortgage fees

Fancy fixing your mortgage rate for 40 years? Don’t forget about your pension

Super-long mortgages are becoming more popular but, if you need to make monthly repayments...
Fancy fixing your mortgage rate for 40 years? Don't forget about your pension

Guide to borrowing past retirement age

As an older borrower, you may be concerned that a lender will not offer you a mortgage pas...

Mortgage market biased against homeowners

Buy-to-let property investors are unfairly favoured in the mortgage market, an independent...

Should buy-to-let investors ‘go Dutch’?

The Netherlands is revealed as Europe’s top buy-to-let property hotspot

Private sector tenants in poverty double in decade

The number of private rented sector tenants in poverty has doubled in the last decade from...

Large mortgage broker firm launches with fees of over 1%

An insurance firm has launched a mortgage advice service

Second steppers targeting detached properties

Those living in their first home are increasingly looking to reduce the steps to their lon...

Mortgage Calculators