Couples can get a ‘bigger mortgage’
First-time buyers who are single will find it harder to get a mortgage, one expert has warned.
According to David Kuo, head of personal finance at Fool.co.uk, couples have the benefit of being able to join their salaries together and afford better and more expensive properties.
The London is particularly prevalent in London, Mr Kuo added, where property may be ten times the amount of a singleton's salary.
Thus, it is "impossible" to get onto the housing ladder in the capital, he said.
However, couples are in a more advantageous situation, Mr Kuo remarked, saying: "When you combine two salaries together to make it £50,000, and then … go three or four times that salary, then you are looking at something around about £200,000.
"Suddenly your market just opens up very, very widely."
Research by the company has discovered that singletons are financially better off as they tend to dine out less with friends, among other things.
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