27 Aug

Returning home 'a good option' for FTBs

Returning home 'a good option' for FTBs

Returning home for a year is a good way of saving some money if one's parents have got a reasonably charitable view, one property expert has asserted.

Graeme Moran, managing director at Metropolitan Home Ownership, which was set up in 1981 to create affordable housing choices and homes for low-paid and working households, said that many people may be opting to move back in with their parents because they are "so worried" about job security that they do not wish to "risk" signing a new tenancy agreement.

His comments follow the publication of figures from Saga, which reveal that three-quarters of parents are pleased to live with their children again, while only 27 per cent have asked for money to help pay the increased bills.

Mr Moran advised "spending a year to repair any incomplete credit history and then after that hopefully having sufficient savings to go out on to the housing market".

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