The research also showed that four out of five homeowners believe they would find it harder to get a mortgage if they were looking for their first house now, and that there is a gap between the sexes when it comes to mortgage payments; as over one in 10 women pay more than half their average income on their mortgage, compared to only one in 20 men who pay the equivalent amount.
Stephen Noakes, Mortgage Director, said: “It is interesting to see how different age groups see the market differently. Those aged 25-34, who in the majority of cases would have been buying their first house during or after the financial crisis, have clearly been affected. The fact that theirs is the only generation that thinks buying a home with someone is a bigger commitment than getting married speaks volumes.
“It is surprising to see that so many people don’t pay attention to their mortgage debts – we would always recommend that customers keep track of their finances.”
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