Halifax finds men taking out first time buyer mortgages later

26 November 2004
According to a new survey by Halifax single men are staying at home longer and buying their first home later.

In 2003 56 per cent of men, and only 37 per cent of women, in England aged between 20 and 24 were living at home with their parents, Halifax has reported.

This represents an increase of six per cent from the number of men the same age living at home in 1991.

The percentage of single men buying their first home was the lowest it has been since 1992 as well.

"Much is made of the growing independence of single women today, but research highlights the growing plight of her counterpart," said Craig Donaldson, head of mortgage products at Halifax.

"Whilst young women are enjoying their new found financial freedom, young single men are not only choosing to leave the parental home at a later age, live in shared, rented accommodation for longer, but are also buying their first home later."

To read more about first time buying, click here.
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