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British youth hope to live abroad, says UCB

Most of the UKs youth believe they will own their own home, buying their first property between the ages of 25 and 30, according to UCB Home Loans.

However, the specialist lender of Nationwide says although the desire to own property is strong, 32 per cent of respondents say they would rather live abroad than buy a home in the UK.

A survey of 1,000 16-21 year olds conducted by UCB found that 92 per cent of respondents would prefer to own the property they live in when they are older, rather than rent.

Two thirds – 66 per cent – believe they will be between the ages of 25 and 30 when they buy their first home, with the average age being 27.

UCB Home Loans managing director Keith Astill says: Whilst 92 per cent of the young people interviewed want to own their own home when they are older, it is likely that some of them will never actually make it.

The age at which people make their first purchase of a property has also been rising over recent years, and a large proportion of those who are hoping to buy their first property by the age of 27 will not be in a position to do so. Latest figures from the Council of Mortgage Lenders show that the average age of a first-time buyer is now 34.


Critical barrage for Big V plan

Advisers have criticised Virgin Money’s cancer-only protection product, The Big V, for being more expensive and having less coverage than many critical-illness policies. There are concerns that clients could switch out of CI cover or life policies and be worse off. The product is administered by Scottish Widows and features three stages of cancer cover […]

Midas and Hiscox in strategic partnership

Midas Capital and Hiscox Investment Management are forming a strategic partnership with Midas managing the 25m Hiscox international growth fund while Hiscox takes a 6.5 per cent shareholding in Midas.

Shame is the spur

Research shows that our new year’s resolutions tend to be about becoming better people through gym memberships, less beer and fewer fags, more charitable giving and becoming more financially astute but it is interesting to look at one of the FSA’s priorities for the new year.

CII plans to shut its DB plan due to 8m deficit

The Chartered Insurance Institute is set to close its final-salary pension scheme to existing members after calculating its scheme has an 8m deficit. The move follows FTSE 100 firm Rentokil closing its final-salary scheme to existing members to curb its pension liabilities. The Co-operative is also switching its final-salary scheme to an average-salary system. The […]

Leading Edge – April 2017

There is little doubt 2017 will be a year of political uncertainty. Leading Edge is Royal London Asset Management’s regular review of investment markets. This edition explores some of the impacts that this uncertainty is having on investors, from the pitfalls of prediction within UK equity investing to the dangers of opting for convenience over […]


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