Surge in couples moving back to mum and dad to save for a home
MORE than a million young couples who cannot afford a home of their own have moved in with “landlords-in-law”, research shows.
In the past five years almost 2.5 million adult children have gone to live in their parents’ home with their partner – or with their partner’s parents.
A quarter of these couples have done so to save for a home deposit, while 12 per cent could no longer afford their rent.
A further 12 per cent did so for no reason other than having graduated from university. Many parents welcome their children and partners – 28 per cent of those polled said they were pleased they could spend more time together and 26 per cent were happy to give youngsters the opportunity to save.
However, a third of parents (34 per cent) said their child and their partner moving in had caused problems, according to Churchill Home Insurance. The biggest cause of disputes was failure to help with housework.
One in seven (14 per cent) said the child and partner did not help with chores and 11 per cent were left feeling their house was being treated like a hotel.
Fewer than a third of parents (30 per cent) charge rent and the average that is charged is only £115.60 a month, an eighth of the average UK rent of £928.
Boyfriends and girlfriends are even less likely to pay rent, with fewer than a fifth (18 per cent) being charged. Even those who do pay get a good deal with the average rent for partners just £109.90.
Claire Jarrett, of Churchill, said: “Moving back in to the family home is becoming ever more popular and is often the only choice for young adults who are trying to save up for a house deposit of their own.
“Whilst it is surprising that so many have opted to move back in with their parents with their partner in tow, this does allow couples to save more whilst still living together.”