Over 25% of parents disregard regulations or even deceive about information to ensure their children attend the preferred educational institution
In the competitive world of education and property, it seems some parents are going to great lengths to secure their children's future and invest in their homes.
A recent study reveals that more than one in four parents (27%) nationwide are flouting rules to get their child into their preferred school. Key tactics include house purchasing or leasing near a preferred school, delaying starting age, and challenging school admission policies legally. The most common tactic is registering a child at the address of relatives or friends in preferred school catchment areas (30%).
In the property market, the number of borrowers taking out long-term mortgages has seen a significant increase. Over the past five years, the number of mortgages sold to borrowers aged over 36 with a term of 35 years or more has climbed by 156%. This trend is particularly evident in London, where the average premium paid to buy a house in the 'right' catchment area is a staggering £115,750.
The property portal, Wickes, in collaboration with TV property expert Phil Spencer's Move iQ, offers advice on boosting property value. Phil Spencer's top tip is to focus on first impressions, which includes giving your home a thorough clean and clear. Other top tips include making your home more energy efficient, refreshing your kitchen and bathroom, adding storage space, installing smart tech, as well as rewiring, replumbing, and redecorating.
Despite the rise in property prices, the volume of homes on the market is up 11% on the same time last year. This has given buyers the greatest choice at the start of a year since 2015. However, uncertainties loom on the horizon, including potential interest rate drops and the impact of higher stamp duty from 1 April.
The number of parents who admit to bending or breaking school admission rules is up from 24% in 2022. In London, the figure rises to 38%. It's important to note that while some parents are taking advantage of available means to gain an advantage, no explicit evidence points to extreme rule-breaking or outright fraud.
Karen Noye, mortgage expert at Quilter, states that the continued rise in property prices has made it difficult for buyers to afford homes without significantly extending the repayment term. This has led to an increase in the number of borrowers stretching their mortgages to 35 years in an effort to reduce monthly costs.
With the new year, the number of sales agreed is 11% higher than the same time in 2024, and the number of buyers getting in touch with estate agents is 9% ahead of last year. Despite these positive signs, the property market and school admission system continue to face challenges, with access to information, legal know-how, and financial resources heavily influencing outcomes.
- Recognizing the significance of education-and-self-development in securing children's futures, some parents are not only investing in their homes but also engaging in personal-growth strategies, such as flouting rules to get their child into their preferred school, in the hope of boosting their child's learning opportunities.
- In the pursuit of personal-growth and life-long learning, many individuals are exploring various means to enhance their property value, following advice from experts like Phil Spencer, by focusing on first impressions, energy efficiency, and smart tech, among other strategies, which can further their education-and-self-development goals.
