Joint purchases will account for more than three quarters (77 per cent) of planned property buying in the next two years, new research suggests.
A study by Santander Insurance highlights the increasing trend for shared home purchases between two people who are not married, with twenty-two per cent plan of those planning or considering a joint purchase in the next two years intending to do so with their unmarried partner.
Thirteen per cent will share the purchase with their parents while 4 per cent expect to purchase their home with someone else such as a friend or other relative.
By contrast just 7 per cent of people currently own a home with an unmarried partner, 3 per cent with their parents and 2 per cent with a friend or other relative.
The main reason for buying jointly, cited by 23 per cent, was that shared ownership is the only way to get a foot on the ladder. Only 21 per cent would make a joint purchase because they want to live with the other person and 16 per cent will buy jointly because it will leave them less financially stretched.
Fifteen per cent will do so in order to afford a bigger property and nine per cent say their main motivation is taking advantage of a good investment opportunity.
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