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Just 8% say buying a home with partner a long-term commitment – broker

by: Karin Wasteson
  • 13/09/2017
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Just 8% say buying a home with partner a long-term commitment – broker
Where 5.1m UK adults are delaying getting married to buy a home, only eight per cent see it as their biggest lifestyle commitment, according to mortgage adviser London and Country Mortgages.

The research, carried out by Opinium Research between 4-7 July 2017, showed that while people are delaying starting a family or getting married in order to buy a home, just eight per cent see owning a property with their partner as their biggest long term commitment.

One fifth of UK adults taking part in the study have moved in with parents, taken a second job or delayed starting a family or spending money on a wedding so they can save for a deposit.

A third of adults believe getting married is the biggest long-term commitment, while 21% believe being in a long-term relationship is their top responsibility, while only 18% thought that children are the biggest responsibility.

Home ownership is seen more as a commitment among 18-34 year olds at 12%,  than the older generation at six per cent of over 55s.  Marriage was considered the most committed act for Brits on the whole. 

“With high house prices, rising living costs and wage growth at a virtual standstill, buying property with a partner is perhaps no longer seen as a major long term commitment for people, as it seems like such a distant possibility”, said David Hollingworth from L&C Mortgages. “Perhaps for some, buying seems so far off in the future that it has fallen down their list of commitments,” he added.

Hollingworth continued: “Buying with a partner will certainly be one of the biggest financial commitments you can make. It’s therefore crucial to think clearly and plan, especially as home ownership is so entwined with the long term goals of marriage and raising a family.”

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