- Thursday, 31 December 2009Demand for
IVA help may increase as the recession forces an increasing number of adults to return to live with their parents.
Research by Abbey Bank reveals that around one million adults aged between 18 and 24 have moved back in with their parents or delayed plans to move out.
A further six per cent of those aged 25 to 34 and five percent aged 35 to 44 have also returned home.
The study also revealed that on average parents had given 18 per cent of their cash savings to their adult children in the past year.
Abbey spokesman Andy Smith said the return of grown-up children to the family home could be a shock for parents used to "the quiet life".
"While many parents can live with more noise and a bigger laundry pile, many may be unprepared for the financial impact of their return home."
Recent figures released by the Office for National Statistics highlighted the increasing difficulty for young people in the UK to become homeowners. In 2008, 18 per cent of first-time buyers were aged under 25, down from 30 per cent in 1990.
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