Houses are the new wedding rings

Posted: 13 Apr 2006 09:38:24 GMT

            Property News - Houses are the new wedding rings

New research has found that owning a property is becoming the new symbol of marriage, with 28 per cent of single first-time buyers waiting to meet their perfect partner before buying a home.

The quarterly Moving Improving index from Alliance & Leicester also shows that nearly 40 per cent of those who would prefer to buy a house with a spouse see sharing a mortgage as a symbol of love and commitment.

It is not a sentiment shared by couples who are currently renting together, however, with 14 per cent saying they would not like to buy a house with their current partner.

Around a quarter of these say that it is not the right time in the relationship to make the commitment, while 17 per cent say that they would be reluctant to share any future profits on a house and so would prefer to buy alone.

This independent outlook seems to be increasing, with four in ten single potential homeowners saying they would like to buy their own property.

Nearly three in ten say that living alone is a preference because they do not know or trust anybody enough to buy a property with them.

Another key finding was that seven per cent of single first-time buyers are looking for financial assistance from family members to get a footing on the property ladder.

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