There are many options for millennials when it comes to getting on the property ladder, claiming that “an outdated view of mortgages and the property ladder persists amongst some audiences", Leeds Building Society has said.

In its statement, LBS director of product and distribution Jaedon Green said: “The Generation Rent report is further evidence of the changing property aspirations of different generations.”

Green further commented that millennials are becoming “increasingly” comfortable with the idea of renting because it aids employment mobility, allowing them to move more frequently, a “key” to unlocking career and salary progression.

However, LBS also stated that it “supports” schemes such as Help to Buy and Shared Ownership as they provide a “practical and affordable” solution for younger people looking to get onto the property ladder.

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