House prices delay starting a family - 10/02/2005 ...
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People in the UK are delaying starting a family because they are unable to get on the property ladder, new research has shown.
According to Purely Mortgages, almost three million have had to postpone having children.
Additionally, to help save for a house some four million people or ten per cent of the UK population have taken on, or plan to take on an extra job.
The same number said they were in jobs they hated just because it was the only way to get the money they needed to pay for property.
The chief executive of Purely Mortgages, Mark Chilton, commented: "First time buyers are certainly resilient. Their passion for owning their own home has not diminished despite the huge stretch between income levels and the cost of property in the UK."
However he added: "It is a worrying social trend for Britain if more and more people are putting off having a family and stretching themselves to such extremes just to afford their first home."
The study found that not having enough income to afford the size of the loan is the biggest barriers for first timers.
Mr Chilton feels that both the government and major lenders have a "serious role to play in overcoming the serious difficulties facing the first time buyer market".
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