Twentysomethings 'sacrifice uni, dream job' to get a mortgage

21 June 2007
One in five 18 to 24-year-olds have ditched their hopes of getting their ideal job in favour of better-paid but less rewarding work as they struggle to fund their first home, Lloyds TSB has revealed.

Ten per cent, meanwhile, have decided to save for a home instead of paying to go to university while one in six people in this age group is working two jobs to help them afford a house.

Buying a home by the age of 30 is the top lifestyle ambition of young twentysomethings, Lloyds TSB found, with 75 per cent hoping to be homeowners by the time they reach 30.

By contrast, 64 per cent of young people interviewed said they hoped to marry by 30.

But young people need not take extreme measures, said Alison Burns, mortgage sales director at Lloyds TSB.

"Mortgage providers are becoming increasingly flexible to accommodate the changing circumstances of first time buyers," she underlined.

Nevertheless, Paragon Mortgages this week called for more new-build, affordable homes to be constructed in the UK.

"We build far too few of the right kind of properties in the UK year by year, spokesperson John Heron told BBC Radio 4's 'Today' programme.

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