WHEN FRAN Miller, 26, graduated from her four-year course at Birmingham University in 2001, she was in serious debt. In order to save money, she returned to the family home in Edgware, North London, to live with her parents, pictured with her. “I knew some people at university who would take out a student loan and blow it on a holiday. I wasn’t like that. I was quite careful with the money, but there just never seemed to be enough. I ended up taking out four loans and overspending on my credit cards.”

Fran’s financial problems were compounded when she decided to spend a year in America studying for an MA. “By the time I had finished my MA and came back to England, my debts were between £10,000 and £15,000. Even though I’ve now got a good job on a local newspaper and a steady income, they are not getting smaller. They are not getting any worse either, but I have not managed to make a dent in them.”

Life in the Miller household is comfortable, which is often just as important a factor as money for graduates who opt to stay at home. “My parents are incredibly considerate. I don’t pay rent or bills or contribute at all. I know that sounds awful, but they won’t take my money. I also get all my meals cooked for me and my washing and ironing done. I have lived away from home for years and so it is strange not to be doing those things for myself. But on the other hand, work is so exhausting and it’s lovely to come home and be looked after.”

Although Fran’s situation is not so bad that she could not afford to rent, she and her parents feel that it would be a waste. “My father, in particular, is dead set against me renting. He would much rather I stayed at home and saved up for a deposit.”

Although living at home is working out well for Fran, there are some downsides. “I really enjoyed having my own place before, and I mostly just mourn the loss of my independence. My parents and I get along very well, but we do argue about things at times: how late I stay out can be an issue.

“Sometimes I will come home and find that they have already locked the door. The worst incident was a few weeks ago when I came back at about 3am to find that I didn’t have my keys or my mobile. I didn’t know what to do, but in the end I rang the doorbell. At the time they were fine — it was too late to be angry. But the next morning they were quite annoyed.”

Like many graduates who are still at home, Fran feels most under pressure to get on with life and move out. “Sometimes I think that I am not being quite adult enough and that by now I should really have my own place. But while it is so hard to get on to the property ladder, this is the way things are for a lot of people. I was furious about the Budget: I really hoped that it would do more for first-time buyers, but it didn’t. It was such a cop-out.”

Flat plan

THESE two properties creep in under the new £120,000 threshold for stamp duty introduced by Gordon Brown in last month’s Budget. You can buy a studio apartment, above, near the Old Kent Road in Southwark, London SE1, for £117,500. Contact Living in London on 020-7231 0002. King Sturge Residential is selling a one-bedroom flat, below, by the canal in Manchester for £118,000 with views over Chorlton Street. 0161-238 7400.

What's on

EXHIBITIONS

• The National Homebuilding & Renovating Show, NEC Birmingham: April 14-17. All aspects of building and renovating a home will be on show, including techniques and systems used in the self-build house shown above. The first 100 readers to call the hotline and mention The Times will get a pair of free tickets. Tickets £7 in advance. 0870 9062002 www.homebuildingshow.com

  LAUNCHES
  
  

• Dorking, Surrey: April 7. Linden Homes opens the marketing suite and showhome for Deepdene Square, which comprises 48 one and two-bedroom apartments. Prices from £225,000. 01883 334451.
  LORNA BLACKWOOD

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