Women more likely to have dreamt about homeownership

Michael Lloyd

November 1, 2019

Women are more likely to have dreamt about homeownership than men, according to Aldermore’s First Time Buyer Index.

Nearly nine out of 10 women (87%) hoping to buy have dreamt about becoming a homeowner, compared to 71% of men.

However women are also more likely to feel these goals are unachievable according to the research.

Sue Hayes, managing director – retail finance at Aldermore, said: “It is concerning to see the barriers to homeownership having a greater impact on women.

“We need to address financial inequality in our society to help tackle gender disparities so that becoming a homeowner is achievable for all.

“The house buying journey is a stressful one and can feel very overwhelming for new homeowners.

“The industry needs to work together to provide a straightforward process and remove hurdles for all first-time buyers.

“At Aldermore, we offer a variety of product choices and personal service to give first-time buyers the best possible options in a challenging market.”

Women are reportedly more likely to perceive renting as too expensive and see saving for a deposit as the biggest obstacle to buying a home.

Women are also less likely to foresee applying for their first mortgage alone at 26%, compared to 39% of men.

In terms of the Bank of Mum and Dad, 23% of women stated they will raise a deposit with family help compared to 28% of men.

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