The living arrangements of many below the ages 35-40 are indeed unpleasant with most simply unable to afford the purchase of a home. It is quite alarming that the average income of UK workers is barely able to cover the cost of rent not to mention purchasing a house for either residential or investment purpose.
While those who have a little financial buoyancy are able to seek out mortgages to be able to pay for properties they intend to acquire, it is really not a straight shot solution as the initial deposit for mortgages in this crazy property market is almost absurd. There are also multiple repayments attached to each mortgage deals as well as the inevitable interest rate hikes that buyers can never avoid.
Property investment is difficult even for the middle-class
With all these challenges accompanying the purchase of properties in the UK one has to wonder how possible it is for low-income earners to harbour a dream of owning properties of their own.
The mortgage option is basically out of the question since rent alone takes up to 40% of the income earned by those who are basically categorized as poor. Most low-income earners will just never be able to raise enough money for the down payment on an apartment, and even if some are miraculously able to finance such investment, the repayments and interest rate increments will be too excruciating to finance.
So for most of those that remain in the low-income bracket, a lifetime of tenancy is the obvious reality that is staring right at them…unless of course, something beyond the conventional arrangement occurs. And it seems that may be the case soon with news that the Government is set to finance a massive home building project that will see the construction of hundreds of thousand new apartment buildings across the UK.
Whether the soon-to-be-erected structures will be tailored towards affordable housing is another issue entirely though it isn’t far-fetched to see the cost of rent stabilize or slightly fall after this is implemented.
Property Crowdfunding: the only hope for the poor
Another option for those poor UK residents that want to have some sort of property portfolio even if it means they will not get to reside in them is to channel their little funds to Crowdfunding Property Investment UK.
Crowdfunding property investment has been proven to be a genuine investment route for low-income earners that do not want to bear the risks that accompany the conventional procurement of properties but still wish to co-own a property and of course, earn returns from leases and rents.
It is nearly impossible for a low-income earner to finance any property purchase in the UK; with crowdfunding, however, poor people are given a chance to at least be acquainted with the feeling of being a landlord while also earning some lucrative returns on the investment.
Investment in property comes with risks as well as the possibility of rewards.
For more information visit here https://crowdlords.com/full-risk-disclosure
CrowdLords Limited 