Two-thirds of kids are positive about homeownership

Two-thirds of children have an optimistic outlook about their chances of obtaining cheap mortgages, it has been revealed.

A poll by Clydesdale and Yorkshire Banks found that nearly a fifth of children expect they will own their dream house by the time they are 25, with a further two-thirds thinking that 35 is a more realistic age for homeownership.

However, 33 per cent of children estimate that their dream home will cost them between £500,000 and £1 million.

It also found that children from Yorkshire and Edinburgh are the most optimistic about obtaining cheap mortgages, with 83 per cent and 89 per cent respectively expecting to own their own home by their mid-thirties.

"As any parent knows, children can be very ambitious and it's always refreshing to hear about their hopes and dreams, however optimistic they may be," said Steve Reid, retail director for Clydesdale Bank

New figures published by Endsleigh have shown that 62 per cent of renters intend to buy within the next five years.

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2011-09-06 13:14:55 © Moneyextra.com