Home Purchases by Couples Increased in 2007
Does it seem like more of your friends are moving in together? If you think so, you may be correct. According to research from company John Charcol, in 2007 the amount of first-time home purchases made by couples increased to 50 per cent, up five per cent from 45 per cent in 2006. The Bank of England predicts that more British homeowners will require more secured loans in 2008 than in 2007.
John Charcol’s research also shows that for 2007, the amount of women who purchased homes by themselves stayed about the same from 2006, and the number of men purchasing homes independently fell by about five per cent.
Regarding her company’s research, Katie Tucker, technical manager at Charcol.co.uk, John Charcol’s website, reflects that, “”Buying together is a very sensible choice in terms of affordability. Not only for splitting the mortgage and the bills, but more cuddling up should save you on the heating!” She adds, however, that renting for moving in together for the first time might be a smart move, to ensure the living situation will work out.