Couples who break up don't like to move
- 24th March 2010
- Selling Property News
48% of separated couples consider taking on a flatmate or lodger to make ends meet.
Where couples share a mortgage or rent payment on their home it is always tricky to negotiate a clean separation, even in a sound economy. With the fall-out of the property market due to the credit-crunch many separated couples find they are unable to move on, and often remain living together because of a lack of any other options.
A recent survey by ludlowthompson estate agents revealed why couples who break up prefer to find solutions to keep the home -
- The inability to decide who keeps the shared home (26%)
- Renting separately is too expensive (16%)
- Unable to sell their home in the present market (14%)
For many couples unable to come to a viable solution figures released recently by ludlowthompson may make for some informative reading.
They reveal that out of couples who have split 48% would rather find a lodger in order that one partner can move out. This far and away exceeds other considerations, namely moving to a cheaper location (24%), downsizing (20%) or simply being more flexible on offers made (8%).
A third income from renting offers a clear solution to the problem of affordability. One or both parties can move out allowing both to move on.
Stephen Ludlow says: “In most cases couples who have broken up can find a way to live in separate homes but in some cases it might mean taking on a lodger, finding a new flatmate or settling for smaller homes in a cheaper area.”
“The UK has become a nation of property-lovers, so people can be reluctant to downsize or give up a rental flat that they’ve painstakingly decorated to their own taste. Although there is enough flexibility in the rental market for them to move, people really care about where they live and are unwilling to settle for what they see as second-best.”
Separated couples who do wish to sell their property will be relieved to see improvements in the property market. There are more mortgages available with higher loan to value making buying property more accessible. With house buyers currently outweighing property for sale, house prices have recently risen sharply in London.
A third income from renting offers a clear solution to the problem of affordability.
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