Unews World
A lack of job security is a becoming rising issue when it comes to home ownership, a new survey has found.
The Building Societies Association (BSA), who commissioned the research, said more people are citing this as an issue compared with two years ago.
Raising a deposit, mortgage affordability and accessing a big enough mortgage are seen as barriers to homeownership, the BSA’s research indicated.
Many mortgage lenders have recently eased their rules, potentially allowing home buyers to take out bigger loans, following moves to help people onto the property ladder.
The research also found a third of renters aged 25 to 44 want to buy a home but do not believe they will ever own one.
Thirty-three per cent of renters in this age group believe home ownership is out of reach, while more than half (59 per cent) of renters say they had expected to be homeowners by this point in their lives, according to the research commissioned by the Building Societies Association (BSA).
Nearly a third (31 per cent) in this age group expect to be able to buy a home within the next five years.
Paul Broadhead, head of mortgage and housing policy at the BSA, said: “We can’t remove the barriers to homeownership overnight, and there won’t be a solution that enables everyone to get on the property ladder.
“But there is more that can, and must, be done, including regulatory flexibility and government focus on long-term solutions, such as increasing housing supply.”
More than 2,000 people were surveyed by YouGov in July.
Source link
