Sep 29 2006
Young people in the UK, especially in the capital, do not have enough money to move out of their family home, according to recent research.
The study, by engage Mutual Assurance, found that 28 per cent of under-25s state that they believe they can afford to leave home until they are over 25, rising to 35 per cent of Londoners.
Furthermore, 25 per cent of those under 25 do not believe they could afford to buy a home until they are over 30, rising to 29 per cent of Londoners.
Karl Elliot, 3GB spokesperson for engage Mutual Assurance, said: "engage provide simple financial solutions for the whole family, in order to reduce the financial burdens experienced as a result of family tax support.
"Tax efficient savings, including Isas and CTFs, which mature when a policy holder reaches adulthood, for example, are a cost-effective way to help ensure that children have support starting in life"
Research published by Lloyds TSB this week claimed that financial pressure leads today's students to be more conscientious about their studies than students of previous generations.
For details on Isas, CTFs and other means to save for children's futures, please click on our free brochures page.
