Potential fixed rate mortgage pitfall identified by PricedOut
www.moneynews.co.uk > Mortgages > Potential fixed rate mortgage pitfall identified by PricedOut
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Money News |
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Potential fixed rate mortgage pitfall identified by PricedOut
Thu 17th Feb 2011
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Spokesman for the national campaign group Matt Griffith explained that many people in relationships may consider securing a mortgage with their partner as it increases their purchasing power.
But he claimed that the financial implications of a couple breaking up can be equal to - or worse - than the emotions caused by such a change.
Mr Griffith described how it can be very difficult to split a jointly-owned house.
His comments were made after Rightmove revealed 72.5 per cent of first-time buyers plan to purchase a home as a couple.
The PricedOut representative predicted the younger generation could soon become very disillusioned with the property market and other aspects of life.
"Single young people have it really tough at the moment - much higher youth unemployment, higher university costs and very high housing costs," added Mr Griffith.
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