According to Alliance & Leicester Mortgages' movingimproving index, about six million Britons would rent houses, rather than buying. About half of the people who are renting houses are found to be afraid of the cost of a mortagage, according to banks.

People are not going for property because of the expense factor. One person out of three is of the opinion that they are not in a position to have a property of their own. Alliance & Leicester said that 17 per cent of people who go for renting are of the opinion that it is a commitment of a big nature.  The Alliance & Leicester mortgage director said that people choose not to have property because of the cost of the mortgage. He further said that half of the people who prefer rent, think that a mortgage is too expensive. He said that if people go for the right deal, they wouldn't have any problem in buying the property.

The South-West is flooded with the mortgage phobia. 64 per cent of the people living there think that it is expensive as well as a big commitment. 53 per cent of the people in their 20's living in the south-west echo the same sentiment. People living in the north-east are among the least scared with most of the people believing that renting is a lifestyle choice, and nothing else.  About 84 per cent of the people would go for buying rather than renting ,and people who have bought property think that they haven’t done the wrong thing.