This is especially common with millennials, with many (25%) admitting they were influenced by wanting to buy.
One in 10 (11%) admit that their choice of partner was influenced by their desire to get on the property ladder, research from Trussle has found.
This is especially common with millennials, with many (25%) admitting they were influenced by wanting to buy with the help of their partner.
Ishaan Malhi, chief executive of Trussle, said: “We know from speaking to customers that a lot of aspiring home owners already have to sacrifice holidays and social lives to save for a deposit, but when major life decisions are being swayed by the desire to get on the property ladder, something clearly needs to change.
“Financial security will always be important when choosing career paths, but a lot of young people now recognise that they’ll need to earn a substantially large salary early on in their careers in order to reach their home ownership dreams.
“The mortgage products available are outdated for today’s society. Across the industry, we need to think about creating individual mortgage products based on an individual and take into account personal circumstances including earning trajectory in order to assess realistic affordability and help young adults get a foot on the ladder.”
One in six (15%) admitted that their choice of career had been steered by their ambition to get on the ladder, while one in 10 (9%) said they had left a job they enjoyed to earn money elsewhere.
