Released on = May 4, 2007, 2:29 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = Despite increasing house prices, today\'s youngsters are home
buying earlier than their grandparents did, it has been revealed says National
Homebuyers.


Press Release Body =
A survey by Engage Mutual has found that while Britons are now waiting longer than
ever to leave their parents\' home - with 34 per cent admitting they will be at least
24 before they are in a position to consider moving out - most under-25 year-olds
expect 28 to be the age when they purchase their first property.

In contrast, their grandparents were nine months older on average when they owned a
house for the first time, but ceased living with their parents at 21.

It is thought that a change in financial attitudes is the cause of this
readjustment, with the under 25-year-olds of today now more comfortable with living
in debt.

\"Young people today face a very different financial landscape than today\'s retirees
faced forty years ago,\" Engage Mutual\'s Karl Elliott said.

\"With consumer debt at an all-time high, 125 per cent mortgages readily available
and credit at our fingertips, today\'s young generation has become more accustomed to
living with debt. As a result, attitudes to financial milestones are changing.\"

However, this strategy is risky - especially in today\'s uncertain economic climate -
and a further rise in interest rates could lead to a number of early homebuyers
facing repossession.

Sussex-based property purchasing company National Homebuyers is seeing a huge growth
in business from people who are facing repossession. Director Julian King says:
\"Repossessions are at a 15-year high. New homeowners are finding that the
encouragement of the lenders is to the delight of the loans companies. We offer a
property purchase solution for people who need to get out of their spiralling debt
problems quickly.

\"Alternatively, first time homeowners could realise the cash in their property and
remain living in their home.\"

Web Site = http://www.nationalhomebuyers.co.uk/newsarticle.asp?ID

Contact Details = Sterling House
20 Victoria Way
Burgess Hill
West Sussex
RH15 9NF
08709798118