Homeownership Seen as Bigger Commitment than Marriage: Study

According to figures released by Halifax, 28 % of 25-34 year olds in the UK look at buying a home with someone as being a bigger commitment than getting married.
The report also showed a major difference between age groups when it comes to purchasing homes with their partners – one in four 25-34 year olds were married before they bought, as opposed to almost three quarters of 35-44 year olds.

The same study found that more than 1 in 10 women put more than half of their income towards their mortgage repayments, compared to only 1 in 20 men.
When it comes to knowing how much is owed on a mortgage, 1 in 10 couldn’t say what their balance was, with only 1 in every 4 knowing exactly how much is left to be paid.
The study also showed that 80 % of current homeowners between the ages of 25 and 34 think they’d find it harder to get a mortgage if they were buying their first home now.
Out of the 25-34 year olds that bought a home with a partner, 64 % aren’t married.
Source: http://www.independent.co.uk/property/twentysomethings-believe-buying-a-house-together-is-a-bigger-commitment-than-getting-married-8315977.html

Follow loans.com.au