To buy or not to buy? That is the question in the midst of economic conditions which are making it tough for many potential borrowers to make life-affirming, property-related commitments.
Although first-time buyers remain the bedrock of the mortgage market – and it’s important that the younger generations remain attracted to homeownership – times are changing. A range of consumer demands need to be fully catered for and shifting social demographics to be considered throughout the lending and private rented sectors. For example, some tenants are opting to rent for longer as it fits better with their current lifestyle. Some tenants simply don’t have a choice. Flexibility can be a key factor for many, and this is even more apparent when you consider the changing face of employment throughout the UK and the effect this is having on how property is being viewed and utilised.