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Fool.co.uk: Property purchase 'impossible' for singletons

Current market conditions make it impossible for a single person on an average wage to take out a mortgage, Fool.co.uk said yesterday.

An alternative solution offered to homebuyers by the financial website is moving in with another person, either a friend or a significant other.

Extremely high property costs are to blame for the bottom rung of the ladder being out of reach - with the average wage in London being outpaced by the average house price ten times over.

David Kuo at Fool.co.uk added: "A single person on a single wage will [find it] impossible to get onto the housing ladder, in London in particular.

"Two people, when they club their finances together, will find it a lot easier and will find [that they have] a lot more choice."

This situation has come about despite evidence that singletons are generally financially better-off than those in a relationship.

Previous research from Fool.co.uk has shown that single people have around £255 extra to spend each month.

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