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A newly published study claims that approximately 25% of couples are unable to live together due to an inability to afford to purchase a joint home
When asked why they are not living together couples responded that although they were committed to each other, they were unable to afford current property prices and some said they were experiencing difficulty in obtaining a Mortgage at all
Sadly, the study also indicates that as a result of living apart the 1.1 million couples affected by this issue actually spent more per month on accommodation than they would do if they were to purchase a home together. As such, couples who are currently unable to obtain a Mortgage due to what is being perceived by many to be a tightening of lending criteria amongst Mortgage lenders are forced to endure further financial burden.
The Government are calling for Mortgage lenders to lend more both to companies and individuals in a bid to get the economy moving, but this alone will not provide the solution that couples so desperately require if they are to build a life together
If these statistics are to change in the near future it would seem that house prices will have to plunge which even in this kind of economy seems highly unlikely
For couples who are currently being forced to live apart the only hope of resolving the situation is to review their finances, cut their outgoings and increase their income. For those couples who find that this is simply impossible and who are therefore forced to wait for a change in the economic dynamic of the UK, the solution may prove to be a long time in coming
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