Renters comfortable as homeowners struggle

25 2008
British professionals considering making a move out of the rental sector and purchasing their own property are likely to have been discouraged by new figures showing the rising number of repossessions which have been triggered by the global credit crunch.

According to National Homebuyers, the number of enquiries it has received from homeowners struggling with mortgage repayments has soared by 35 per cent since the start of the year.

Significantly, the firm's Julian King noted: "The majority of calls we are getting are from first-time buyers who have already run into trouble with their mortgage payments."

The new figures come soon after the Citizens Advice Bureau issued a similar warning, with the government body reporting that increasing numbers of people are failing to keep up with their mortgage commitments.

Such financial difficulties being faced by homeowners has been cited as one factor behind the continued strength of the rental sector across the UK, alongside high student numbers and immigration levels. ADNFCR-1219-ID-18520790-ADNFCR

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