home ownership

Home ownership opportunity increasing for young millennials

23rd December 2024 Consumer Lending | #home ownership

New research by the Resolution Foundation has found that youth home ownership rates have risen since the mid-2010s trough to leave younger millennials with greater home ownership rates at age 25 than older millennials had at that age. But with middle- and higher-income households gaining the most in recent years, the property divide between rich…

8.3m impacted by adverse credit in past three years

30th September 2024 Consumer Lending | #adverse credit #home ownership

Around 8.3 million individuals have experienced adverse credit in the last three years according to research by Pepper Money. Those who say they’ve missed a credit payment, nearly half (46%) say they have gone on to miss more than one payment. However, 1.76 million potential borrowers with adverse credit have plans to buy a property…

One in five wait until their forties before owning a home

17th April 2024 Consumer Lending | #home ownership

Around half (48%) of first-time buyers say their prospects of owning a home are further away than ever due to the ongoing cost-of-living crisis, research by Nationwide Building Society shows. The research shows that one in five (20%) don’t think they will be able to buy until at least their forties – a significant increase…

19% of renters put buying plans on hold

27th July 2023 Consumer Lending | #home ownership

With raising rates and high inflation dominating the headlines over the past year, many renters are putting off their buying plans until property becomes more affordable, according to the latest research from The Mortgage Lender (TML). Almost one in five (19%) renters say that high mortgage rates mean they can’t afford to buy now and…

Homeowners nearly £500 per year better off than renters

15th March 2023 Consumer Lending | #home ownership #renting

The monthly cost of owning a home for first-time buyers is now £971, £42 (4%) lower than the cost of renting the equivalent property, according to the latest Halifax Owning vs Renting Review. The analysis, which is based on housing costs for first-time buyers with a mortgage on a three-bed home compared to the average…

One in five middle aged adults believe they will never be a homeowner

9th January 2023 Consumer Lending | #home ownership

Almost one in five (18%) consumers aged 35-54 think buying a home with a mortgage will be unachievable for them with the average adult believing that the age for financial independence now sits at 29 years old according to research by Forbes Advisor. The research found that over a quarter (26%) of 45–54-year-olds required financial…

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