THE number of people renting a home aged 35 to 54 has risen by 15 per cent in the last three years, as they struggle to get a mortgage, according to new research.
Those who rent say that not being able to afford a deposit or not meeting mortgage criteria is the main reasons for not being able to get on the property ladder, in the survey of more than 2,000 tenants.
The report, commissioned by Intus Lettings, suggests that the struggle which those renting property face in getting onto the housing market ladder may be worsening, despite house price growth slowing.
The number of people aged 45 to 54 who revealed they are renting due to not being able to afford a house deposit has grown by a third since 2016 according to the data, while just under a fifth of renters over 55 believe they’ll ever be able to afford to buy a property.
Reasons noted in the survey included general affordability and problems getting a mortgage due to age.