The Children's Mutual says putting away £75 per month from the time a baby is born is enough to help the average parent put their offspring on the property ladder without resorting to remortgaging their own home or borrowing large sums on an unsecured basis.
The figure is based on findings published last week by the Joseph Rowntree Foundation, which found about half of home-owning parents would be willing to take on debt to help their children get a home of their own. TCM says putting about £50 per month into a baby bond over the past 18 years would have left parents with about £24,000, the same figure JRF’s research suggested one-in-five parents would be willing to borrow to fund deposits on their children’s first homes. IFAonline
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