Homeowners unhappy with their property

9/07/2007

There are numerous people within the uk who would like to complete a mortgage deal and jump on to the property ladder. However many people also seem to be buying houses which they are not comfortable with, new research reveals.

Alliance & Leicester showed that nearly 2 million people in the UK had completed a mortgage deal to purchase what they felt was their ‘dream home’.

A survey was carried out to homeowners asking how they felt about living in their new home, a scale from one to ten, the average result was 5.5. This simply indicates that they are living in homes for the ‘sake of it’ until they can afford a better mortgage deal.

Throughout London only 3 per cent of people confirmed that they were happy with their property.

Director of mortgages, Stephen Leonard commented, "It seems people are happy to move into a property that isn't their ideal, in order to move up the property ladder and reap the benefit of rising house prices,"

"More and more people seem to be looking for property on the basis of an investment, rather than buying their dream home."

Due to further interest rate increases and house price inflation, it is only preventing potential homeowners from getting a mortgage, leaving them in rented accommodation for a longer period of time.

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