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Britain's youth terrified of turning into Ronnie Corbett

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Britain's youth terrified of turning into Ronnie Corbett

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Published by Max Salsbury for 24dash.com in Housing and also in Communities

Britain's youth terrified of turning into Ronnie Corbett Britain's youth terrified of turning into Ronnie Corbett

Over half of Britain's youth are terrified of turning into the Ronnie Corbett character Timothy Lumsden in the ground-breaking series 'Sorry'.

With house prices soaring, a YouGov survey of more than 2,500 Britons found that 51% of 18-34 year olds worry that not being able to afford to buy a property means they may have to live with their parents or guardians for longer than they want to.

And 49% of the demographic are concerned they will not feel independent if they are unable to get on the housing ladder.

With four million under-34s still living at home, parents are looking for ways to help their children avoid becoming trapped in ‘generation rent’, according to Sharemortgage.com who created the YouGov poll.

Meanwhile, another survey, by Santander, showed that one in two first time buyers receive financial help from the bank of mum and dad.

In most cases, this help is gifted but 29% give the money as an interest-free loan and 3% as an investment.

According to research by Santander Insurance, 39% of joint property transactions in the next couple of years will be between friends, family members, and unmarried couples.

Corbett's character Lumsden was famously still at home with his unusual parents at the age of 41.

In a bid to support parents who want to help their children find a property of their own, Shareamortgage.com has now launched its ‘Help your Child to Buy’ scheme to offer legal backing for parents to help their children get on the ladder.

Andrew Boast, co-founder of Shareamortgage.com, boasted: “The UK housing market is a minefield. Property prices have increased by 6.7% this year, whereas wages are rising by a mere 1.5%, leaving first time buyers struggling to make the leap into home ownership without financial assistance. It’s therefore reassuring to hear that so many parents are supporting their offspring and I am proud to say that Shareamortgage.com is launching a platform to ease this process.”

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