Majority of people 'would rather rent a home' - buy to let mortgages

02 March 2009

The majority of people questioned in a recent poll said they would rather rent a home than buy one in the current economic climate.

In the survey carried out by Adfero, 58 per cent of those questioned revealed that they are more likely to rent a house or flat at present, something that may be of interest to those with buy to let mortgages.

Many of the participants in the poll, which was conducted in Leeds city centre, claimed that they would like to buy a property but added that they are currently not in a position to do so.

Adam, one of the people who took part in the survey, commented: "Rent is all I can afford," while Laura remarked: "There's no way I could afford to take on a mortgage at the moment."

Recently, Abbey reported that it is cheaper for first-time buyers with a deposit to purchase a home rather than rent one in many areas of the country, except in London.