Debt advice: Six out of ten people 'forced to continue to rent'

19/02/2010

As house prices continue to rise and mortgages become harder to get hold of, many people who may have been considering purchasing their own home have been forced to put off their dreams of owning.

Estate agent Rightmove has conducted a survey which found that six out of ten people are 'forced' to remain in rented accommodation for the coming year due to financial difficulties.

Only 13 per cent of people questioned actually wanted to be renting.

With the Council of Mortgage Lenders reporting a decline in mortgage lending and the Royal Institute of Chartered Surveyors announcing that house prices have once again risen, the market does not look likely to be anymore welcoming to buyers this year.

However, first time buyers could use this difficult time in the market to organise their finances with a structured debt management scheme.

This could put them in a much better position to buy when things possibly begin to stabilise towards the end of 2010.


Posted by Fiona Smith

Tags; Housing Debt and Bills,

• Share
• 
• 
• Store
• 
• Follow
•