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Student debt 'keeping young off property ladder'

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    Higher levels of student debt are preventing young people from getting onto the housing ladder, mortgage lenders claim. Research from the Council of Mortgage Lenders (CML) shows that home ownership among young adults is set to take a dive in coming years as growing student debts combine with other factors.
    The need for young people to be mobile for their careers, plus high house prices and student debts mean that the transition for young people into home-ownership is likely to be slower and more difficult, said the CML.
    "For today's young adults, mobility for career and other reasons is an important factor," said head of research at the CML, Bob Parnell.
    "While home-ownership remains a long-term aspiration for the majority, the reality is that for many young people the combination of house prices and student debt is reinforcing a lifestyle choice in favour of renting."
    The organisation's research concludes that the most effective policies for ensuring affordable home-ownership will be those that allow young people to only take on levels of mortgage debt that are prudent given their financial commitments.




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