UK Wedding News
02/05/2012
The survey from Post Office Mortgages found that one in three (30 per cent) people said buying a house with their partner would remove the pressure to get married or have a civil partnership - or at least allow them to delay tying the knot.
In fact, over half (55 per cent) of people either have already, or would consider buying a property with their partner before getting married. This figure rises to 67 per cent for couples who are already renting together.
There has also been a generational shift in traditional attitudes to property and marriage. While 66 per cent of over-55s said that marriage is a greater commitment than buying a property with a partner, only 50 per cent of under-34s felt the same.
For younger people, buying with a partner may be the only way to get onto the property ladder, as 42 per cent of 18 to 34 year olds cited this as the main reason they would buy with a partner before marriage.
There were considerable regional differences in people's ability to buy property on their own, with 46 per cent of those in the South East who said they were only able to afford to buy with a partner, compared to just 27 per cent in the North West.
The Post Office findings also showed that people are increasingly joining forces with friends and family as well as with partners to buy property. For those not in relationships, teaming up with friends or family was a popular option for 44 per cent.
Only one in five (19 per cent) people are still taking the traditional approach of only considering buying a property once married. When it comes to people's attitudes to matrimony generally, five per cent of people in relationships said they would never consider getting married or having a civil partnership, rising to ten per cent of single people.
Post Office Head of Mortgages, Mike Cook, said: "Purchasing a property, whether it's with a partner or a friend, is of course a big commitment. With many first time buyers finding it hard to get on the property ladder, for some couples buying a house together before marriage is out of financial necessity, rather than just ‘playing house'.
"We are also seeing an increasing number of applications from friends or family members buying together as people seek other ways to get themselves on the housing ladder. You can have up to four people on a mortgage, so friends can take that first step together. Choosing the right mortgage for your situation, regardless of who you are buying with, will help first time buyers take this step together more easily."
(GK)
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Couples Choose Mortgage Before, Or Over, Marriage
Many couples are choosing mortgages before, or over, marriage vows to show their commitment to each other, according to research.The survey from Post Office Mortgages found that one in three (30 per cent) people said buying a house with their partner would remove the pressure to get married or have a civil partnership - or at least allow them to delay tying the knot.
In fact, over half (55 per cent) of people either have already, or would consider buying a property with their partner before getting married. This figure rises to 67 per cent for couples who are already renting together.
There has also been a generational shift in traditional attitudes to property and marriage. While 66 per cent of over-55s said that marriage is a greater commitment than buying a property with a partner, only 50 per cent of under-34s felt the same.
For younger people, buying with a partner may be the only way to get onto the property ladder, as 42 per cent of 18 to 34 year olds cited this as the main reason they would buy with a partner before marriage.
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There were considerable regional differences in people's ability to buy property on their own, with 46 per cent of those in the South East who said they were only able to afford to buy with a partner, compared to just 27 per cent in the North West.
The Post Office findings also showed that people are increasingly joining forces with friends and family as well as with partners to buy property. For those not in relationships, teaming up with friends or family was a popular option for 44 per cent.
Only one in five (19 per cent) people are still taking the traditional approach of only considering buying a property once married. When it comes to people's attitudes to matrimony generally, five per cent of people in relationships said they would never consider getting married or having a civil partnership, rising to ten per cent of single people.
Post Office Head of Mortgages, Mike Cook, said: "Purchasing a property, whether it's with a partner or a friend, is of course a big commitment. With many first time buyers finding it hard to get on the property ladder, for some couples buying a house together before marriage is out of financial necessity, rather than just ‘playing house'.
"We are also seeing an increasing number of applications from friends or family members buying together as people seek other ways to get themselves on the housing ladder. You can have up to four people on a mortgage, so friends can take that first step together. Choosing the right mortgage for your situation, regardless of who you are buying with, will help first time buyers take this step together more easily."
(GK)
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