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Renting property 'will remain popular option'
Posted by Emily Jones
Given the nature of the housing market in the UK, renting property will remain popular, it has been claimed.
According to Vincenzo Rampulla from the National Landlords Association, the idea that the UK will someday be a country in which everyone will own their own home is a myth.
His comments were made in response to a speech made by new housing minister Grant Shapps, who took up his roll following the recent general election.
The politician suggested that more should be done to help people get onto the property ladder and levels of homeownership should rise.
Mr Rampulla reacted to this by remarking: "Although 1.4 million people want to buy their own home, 75 per cent cannot afford a mortgage with an 80 per cent loan-to-value."
He added that more Britons are turning to being tenants and are re-thinking whether it is worth rushing into buying a residence at the earliest opportunity.
09/06/2010 16:32
News category: Property