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CML: People dip in and out of home ownership

Many ex-homeowners are stepping back onto the property ladder, the Council of Mortgage Lenders (CML) has found.

A study from the council has shown surprisingly diverse attitudes among homeowners, belying the stereotypical route of people moving from rented digs into a mortgaged home - and staying there.

The CML found that 15 per cent of people moving into rented accommodation in 2005/06 were previously homeowners.

Rising rates of buy-to-let also added to the mix - with ten per cent owning property that they did not live in.

Commonly, this occurred due to the homeowner being unable to afford a home loan near where they worked - buying instead in a cheaper area to get on to the property ladder.

CML economist Paul Samter said: "Given the considerable complexities of modern life and the increasing interactions across the tenures, perhaps it is time for the government to develop a more holistic approach to housing market issues.

"A good starting point would be to focus on policies delivering an adequate supply of high-quality housing, assisting the mobility of households within and between tenures and an equality of treatment for those in need regardless of their tenure."

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