The Liberal Democrats have announced plans to provide
government loans for tenancy deposits to help young people to rent their first
home. The party’s proposed “help to rent” scheme would allow people aged 18 to
30 to borrow up to £1,500 (£2,000 in London) from the government to use as a
deposit on rented accommodation. The loans would be repaid over a period of
either 12 or 24 months. The party says many young people are struggling to save
deposits to rent without help from family members, forcing them to live with
their parents for longer. The average rental deposit in the UK is £1,200,
usually six weeks of rent. Read more on the Property Wire website.
