20 Jun

'MOSHing' is a way of life for single Brits

'MOSHing' is a way of life for single Brits

Young single people in the UK are finding themselves having to take part in a new way to get onto the property ladder and avoid becoming stuck in the rental market.

The multiple occupancy shared home (MOSH) trend now exists in the UK, whereby people find themselves as part of a new kind of family unit through buying a property with a friend.

This has come to be the reality for many thanks to the fact that the average deposit now costs somewhere in the region of 20 to 25 per cent of the cost of the house.

Confused.com has said that this trend is rising because 60 per cent of people say that they fear they will never buy a home, but 57 per cent said that they would trust a friend to buy with.

Matt Lloyd, head of life insurance at Confused.com, said: "Friendships have always to a certain degree provided an amount of financial support but that trend has certainly been increasing over recent years, with more and more people taking out ‘mates mortgages' to try and circumvent the current strict lending criteria."ADNFCR-1222-ID-801389633-ADNFCR

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