Mortgage attitude of Brits 'changing dramatically'
www.moneynews.co.uk > Mortgages > Mortgage attitude of Brits 'changing dramatically'
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Money News |
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Mortgage attitude of Brits 'changing dramatically'
Mon 4th Jan 2010
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These are the findings of a survey undertaken by Unbiased.co.uk, which showed that 1.75 million Brits are willing to sell their homes and rent property instead.
Overall, 32 per cent of respondents stated they had not considered doing this in the past, but feel that their views have changed since the property market crash and the recession.
A further 31 per cent said they would consider selling their home, but said that selling prices are too low for this to be a reality at present.
"For many who own their own home, the worry and stress [due to] property market volatility has caused them to rethink about whether long-term renting is a viable option for them," commented Karen Barrett, chief executive of Unbiased.co.uk.
In November, Paragon Mortgages reported a decline in the number of landlords remortgaging their properties.
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