Couples find it easier
Article Category: Debt Management Help and Advice
Hard-pressed singletons finding it difficult to get on the housing ladder might be interested to know that becoming one half of a couple might be one way out of their predicament.
Spiralling house prices have put the dream of owning property out of reach for most singles with an average wage.
David Kuo, from financial website Fool.co.uk, echoes this view.
He said: "In London in particular, you’re talking about ten times the average salary just to get onto the housing ladder.
"So this is where two people, when they club their finances together, will find it al lot easier and have a lot more choice… sometimes it’s not just a question of getting on the housing ladder; it’s a question of finding a house that you would like to buy - not just one that you can afford to buy."
He concluded by saying that by combining two average salaries together, couples could borrow around £200,000 and the market "just opens up very, very widely".
Meanwhile, there are reports that the credit crunch has led to many mortgage providers tightening their lending criteria - making it even more difficult for singletons to become property owners.
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