The survey which found that 85% of first-time buyers would take this path follow the recent recommendations by advisors to the Ministry of Justice which suggests that cohabiting couples should share some of the same rights as married couples, including a share of property.
Marriage rates have fallen by almost half since the 1970’s, with the need for first-time buyers to get onto the property ladder cited as a possible reason for this as it now takes precedence over tying the knot.
One such couple are Nicola Blackwood and boyfriend Graham Walker. Instead of opting for vows, flowers and speeches, Nicola and Graham have chosen to dedicate their finances to deposits, mortgages and interior design.
Nicola said: ”We saw the opportunity to get onto the property ladder and grabbed it with both hands. I think a lot of couples today see it as more important to invest in property as early as possible and then get married later. That way if you do decide to get married further down the line there will be less financial pressure.“
The research also found that more than 80% of couples consider sharing a mortgage to be as big a commitment as marriage.
Hugh McGuinness, sales director at Dandara said: “The survey results show us how young people really value the importance of getting onto the property ladder. As interest rates continue to rise we’ve certainly seen an increase in the number of unmarried couples purchasing apartments with Dandara.”
