27
Aug
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".
