First-time buyers looking to claw their way onto the housing ladder have typically opted to go it alone, either taking out larger mortgages to facilitate their purchase or clubbing together with friends.
However buying with a partner has begun to make a comeback and joint mortgages have tipped the balance in favour of the first-time buyer couple.
Katie Tucker, technical manager for Charcol.co.uk said that affordability constraints were pushing more people to take the plunge.
She said: “Joint buyers made up 45 per cent of first-time purchases in 2006, but this shot up to 50 per cent in 2007.
"Men buying alone fell by a corresponding amount, but interestingly, the amount of women buying their first property alone hardly changed at all. It follows that not only are more women buying, they are doing so jointly, and more men are also taking the decision to settle down with a partner for their first home."
Constrastingly, times will only get harder for singletons. Tucker explained: “Property value has increased by around 18 per cent in the last two years but incomes have hardly moved at all. Also, in the first half of 2006, interest rates were very low compared to now at 4.5 per cent, buying alone was affordable and not too risky.
"However, by the end of 2007, Bank rate had increased from 4.5 per cent to 5.75 per cent, making mortgages too expensive for many people to take on alone.
"The monthly mortgage payments on just £150,000 over 25 years at 4.5 per cent is £830, but at 5.75 per cent they are a not-so-sweet £943; a hefty difference to cope with alone."
