Homeowner instinct ‘still in place’

Britons have not lost their appetite for homeownership, a new poll has shown.

The study by LV= found that 67 per cent of adults would feel devastated if they never managed to own their own home, with 28 per cent saying the idea is “too terrible to consider” and 39 per cent saying it would make them “miserable”.

Another finding was that 51 per cent would be willing to take on a second job to keep their property.

Many homeowners would be prepared to undertake other measures to help pay their mortgages, with 19 per cent willing to take in a lodger and 18 per cent prepared to seek money from family and friends.

A further 12 per cent would move out and rent their whole home to retain ownership if required.

Last week, money advice coordinator at the UK Insolvency Helpline Ian Boden-Smyth predicted that the number of repossessions in the UK will rise later this year and into 2010.

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