Rise in people moving home to save for house deposits

A quarter of 25-34-year-olds are moving home to live with their parents to save money for a deposit on a house, according to Aviva Home Insurance.

The firm says almost three quarters cite the need for security as the main reason for wanting their own home, while more than a third feel pressurised by family and friends to get on the property ladder.

The new 20% mortgage requirement by the Central Bank has made it harder for first-time buyers, but 40% of those surveyed believe it is a “fair” rule.

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