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Owning property 'bigger deal' than marriage

19th November 2012 | back to article listings BACK    print this article PRINT

More than a quarter of people in their late twenties and early thirties see owning a home together as more of a commitment than walking down the aisle, a survey has shown.

A new poll by Halifax shows 28% of people aged between 28 and 34 were already married when they bought their first home together.

However, almost three out of four (73%) of buyers aged between 35 and 44 were already husband and wife when they purchased a property together.

The survey also revealed that 80% of those who are already on the property ladder believe they would be more likely to struggle to get a mortgage for UK properties if they were a first-time-buyer now than when they purchased their first home.

Stephen Noakes, Halifax mortgage director, said the way people view the UK property market varies according to how old they are.

He said the research showed that people aged between 25 and 34 who traditionally would have been taking their first step onto the property ladder have clearly been affected by the problems with the economy.

Copyright Press Association 2012

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