Figures by the Joseph Rowntree Foundation have suggested that over the next eight years that number of home buyers under the agree of 30 will have halved. The report also claims that these figures will vary widely depending on where individuals are living and whether they are in Scotland, England or Wales, with many experts feeling that in England there is not an emphasis on building new homes in order to increase affordable housing.
Residential Property solicitors have for some time seen a boom in work around rental properties as many choose this road instead of buying. But young people going down this route are also facing the adding headache of having to move frequently as landlords continue to increase their rental fees. Many young people argue that this directly effects plans to buy a house as they cannot even begin to think about saving the deposit required in order to be able to speak to mortgage providers.
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.
Setfords Solicitors have property throughout the country, with a number of these based in Guildford. Please visit our Guildford Solicitors page to find out more.