Fi­nan­cial bar­rier boosts rentals

Yorkshire Post - Property - - PROPERTY -

THE rental mar­ket will con­tinue to ben­e­fit from first-time buy­ers’ in­abil­ity to save for a de­posit on a home, ac­cord­ing to a re­cent re­port by the Na­tional Cen­tre for So­cial Re­search.

Jonathan Mor­gan, man­ag­ing di­rec­tor of Mor­gans, which has Leeds’s largest man­aged city cen­tre rental port­fo­lio, agrees that more would-be first-time buy­ers are rent­ing.

He says: “It’s fair to say that some oc­cu­piers as­pire to own a home but are ex­pe­ri­enc­ing con­sid­er­able fi­nan­cial bar­ri­ers to do­ing. They are also har­bor­ing a num­ber of pre­con­cep­tions about the buy­ing process which along with the size of the de­posit re­quired by many len­ders means that peo­ple are staying put in their rented homes.”

CAST­ING A SPELL: The Laun­dry, in Bedale, is a charm­ing house with a walled gar­den, and it used to be the laun­dry for Hornby Cas­tle, and borders the cas­tle grounds. From top, ex­te­rior, draw­ing room, walled gar­den and din­ing room. In­set, owner Ju­dith Pearce and her dogs.

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