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Buyers get off the ladder to find a lifestyle

The traditional idea of the property ladder is losing its place in the UK psyche, with people striving to reach an ideal lifestyle rather than a specific size of property, according to Woolwich.

Forty-nine per cent of Britons see living in a desirable area as the most important goal for the future, which is almost twice as important as the more traditional aspirations of owning a more valuable property or bigger home.

The report shows that people are progressing towards security rather than status, with 46 per cent saying being free of a mortgage is the ultimate goal, only 16 per cent dreaming of a mansion in the country and 15 per cent aspiring to a five-bedroom detached house.

Woolwich surveyed 1,305 homeowners about their views and aspirations and asked psychologist Dr Linda Papadopoulos to analyse the findings.

Papadopoulos breaks the UK down into groups: heaven&#39s residents – 25 per cent, who have reached their own personal heaven and anticipate no further movement; sensitive savers – 13 per cent, who are cautiously saving for a move; practical purchasers – 27 per cent, who expect to move every two to 10 years; and serial movers – 13 per cent, who move every two years.

Woolwich head of mortgage products says: “The British public are becoming increasingly imaginative when it comes to plotting their homebuying. They are aiming at dreams and lifestyles rather than particular properties.”

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Guide: Johnson Fleming produces auto-enrolment checklist

For a job as big as managing the auto-enrolment changes, it’s important to know what has been completed and what still lies in front of you to give you the reassurance that everything is in hand. Getting the planning and project management right at the outset can help you see the path ahead and ensure everyone knows their roles and responsibilities. To help with this, Johnson Fleming has produced a checklist outlining every step that needs to be taken when preparing for auto-enrolment.

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