21 Nov

UK homeowners are the decline

UK homeowners are the decline

The number of people owning homes in the UK is lower than a number of other European nations, according to new data.

Research from mortgage company Credit Foncier shows 65 per cent of people are homeowners in Britain, compared to 73 per cent in Italy, 79 per cent in Spain and 84 per cent in Poland.

The country spending the most of their income on property was Holland, followed by Britain, France and Italy.

French property buyers get the most for their money, with the average French homes measuring 103 metres, compared to 85 in Poland and 76 in the UK.

It was also discovered that homeowners in Holland have longer-term mortgages than other countries, with the average home loan lasting 30 years, compared to 25 years in Germany, 23 years in Spain and 19 years in France.

Interest rates for mortgages are the lowest in Germany, with an average of two per cent, followed by 2.1 per cent, 2.6 per cent in UK and 3.4 per cent in Poland.ADNFCR-1222-ID-801828632-ADNFCR

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