We all know how hard it is to get on the property ladder. Whether you’re renting or buying, it’s near enough impossible on the average UK wage.
Hardly surprising then, that a new study reports a whopping 1.8 million adults in the country have stayed in a relationship in order to get themselves on the property ladder.
Yep, apparently 44% of people stay with their partner for almost a year longer than they would if buying a home wasn’t on the table. And another 40% admit to staying with their partner just so that they can live comfortably. This equates to one in ten people staying in a relationship just to be able to afford a house. Depressing, huh?
The news comes from L&C Mortgages, and adds that the number is only set to rise over the next five years.
As much as we wish it didn’t, it makes perfect sense- you wouldn’t share a bed with friends, so both rent and mortgage is a lot cheaper than if you had to shell out for a two-bed place.
David Hollingworth from L&C Mortgages adds: “It’s so important to think clearly when it comes to such a large financial leap, especially if you’re planning on staying in a relationship just to be able to afford a mortgage or deposit. Initially putting your feelings aside solves the problem of being able to get onto the housing ladder, but once the deposit has been paid and the mortgage agreed you may face issues down the line.”
Indeed, you’ll want to make sure you have everything down in writing when it comes to who gets what if you do go ahead and buy a place with your partner, but wind up going your separate ways.
Jeez. This adulting stuff is all too much.