News that buy-to-let lending now accounts for more than one in 10 mortgages adds to a growing picture of change in the UK housing market. Recently, the Office for National Statistics said homewnership had fallen for the first time in a century, while research by Experian highlighted the areas that had seen the biggest swing to renting.
However, it is fair to say that most Brits still dream of buying a property. That is the status quo, and an aspiration supported by government policy – the most notable in the last budget was George Osborne's Help to Buy scheme, which offers loans – and from January guarantees – purely focussed on homebuyers.
The whole system in the UK works against long-term renting – Nationwide bucked the trend when it said landlords borrowing from it could offer tenancies for as long as three years. But in other countries that is the norm.
We would like to hear from you if you live somewhere where renting is the done thing. Tell us what it's like – how long have you been in your current place? Does it feel like home, or are you constantly aware that someone else owns it? Do you aspire to own somewhere one day or are you happy with things as they are? And are there actually advantages to your situation that UK homeowners are missing out on ?
