Nearly a third of renters can’t imagine owning their own home
Nearly a third of tenants in rented accommodation cannot imagine ever owning their own home, research commissioned by GoCompare Mortgages revealed.
The research also showed that more than a fifth of renters think the removal of mortgage interest tax relief on buy-to-let properties will reduce the supply of rented properties in their area.
Half of the tenants surveyed live in rented accommodation because they can’t afford to buy their own home, and 11% were renting as they are currently unable to obtain a mortgage.
Matt Sanders, head of money at GoCompare Mortgages, said: “Our research reveals that half of all tenants are in rental accommodation because they can’t afford to buy their own home.
“It now looks like many have given up all hope of ever owning a home and, for some, the changes to buy-to-let regulations are likely to make renting more expensive. In turn, that makes saving for a mortgage even harder.”