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Mortgage-phobia grips nation says A&L

Over 6m Britons prefer to rent than buy as mortgage phobia is gripping the nation, according to Alliance & Leicester.

A&L’s latest quarterly index finds that over six million UK adults would rather rent than buy.

Nearly half of these are fearful of getting on the ladder due to the cost of a mortgage.

Further, 17 per cent of this group feel a mortgage is too big a commitment and 30 per cent say a mortgage is too expensive and would be unable to afford their own property.

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