Housing prices in the UK have shut many young adults and young families out of the opportunity to own a home. They find it difficult to raise the deposit needed despite there being government programs available to help first time buyers. This is especially true in cities where job opportunities are the greatest, such as London.

Even with great job opportunities it is almost impossible for those starting out in their careers to afford either rent or a mortgage in the capital. Some experts see this as a long reaching problem because it could mean that talented and educated young adults will look outside of the UK for both job opportunities and a more positive outlook on their owning a home and raising a family.

Some are choosing to return home and live with their parents in the hope of saving money. While others are being helped out by their parents in achieving the expensive deposits needed to buy a home. Parents are dipping into their retirement funds or they are remortgaging their own home and taking out cash equity to give to their children for a deposit. This puts the parents further in debt and lessens their ability to retire comfortably or at the time period they had planned.

With the warnings of rising interest rates in 2016 and further increases in house prices, the issue of expensive mortgages and rents is rising in the list of governmental priorities. However, there are few solutions that have appeared to offer a true fix.

The need to assist young adults and families into a home by parents may exist now for generations, and it is the current generation of parents helping that will have the most capability due to the low interest rates available on remortgages and mortgages. As the rates rise, so will the number of parents that will fall from the ability to help significantly enough to make a difference making home ownership even more of a rarity for young adults and young families.