A new research has revealed that millions of buyers in the UK are happy to pay more than originally planned for the perfect property. On top of that, an extraordinary 62% of participants even said they would be happy to stretch their budget by 10%.

To put this in actual numbers, 43 million (78% of landlords and renters) would pay more for their ideal home and 62% would even go up to 10% extra for their dream home. Those most willing to make the extra leap are mainly located in London, Scotland and Northern Ireland.

The 31 million who are happy to stretch their budget by 10% would find themselves adding another £28,000 for a home or £912 for rent to their bills, the latest research by loan company Ocean Finance revealed.

Only one in four Brits would stick to their budget wholeheartedly whilst 2% are extremely adventurous when stating they would be willing to go more than 20% over their original budget. This drastic addition would increase their bill by £56,000 when purchasing a home or £156 (£1,872 annually) on the monthly rent.

A total breakdown gives the following results:


  • 34% are willing to go up to 5% over budget
  • 28% are willing to go 6% to 10% over budget
  • 7% are willing to go 11% to 15% over budget
  • 4% are willing to go 16% to 20% over budget
  • 1% are willing to go 21% to 25% over budget


Approximately 79% of Scottish and Northern Irish buyers are willing to find some extra coin for their perfect home, the same goes for 77% of Londoners.

Finally, the research also revealed that it is those who want to buy and are 34 years of age or younger who are most willing to stretch their budget thin. Some 80% of younger Brits (also dubbed “Generation Rent”) stated they would be happy to increase their budget if the perfect home came along.

“Whether we are renting or buying a property most of us have a budget that we can afford in mind. But three quarters of us are happy to ignore the budget and stretch our finances to get the home that ticks all our boxes,” said Ian Williams, Ocean Finance spokesperson.