Parents are supplying their children with increasing amounts of cash, often from retirement savings, so they can buy their own home, according to research from Alliance & Leicester.
The report reveals that parents feel under pressure to contribute to their child’s first home and are often dipping into savings to help their children onto the property ladder. The A&L Mortgages survey found parents were giving their children an average of £21,314 to buy their first home, and increase of more than £3,500 compared to last year. Parents also feel under pressure to assist their children with home buying and the survey found that a third of parents say they would feel guilty if they did not contribute. One in five respondents say they have already dipped into their savings ...
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