Parents help half of FTBs onto the ladder

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Up to half of all young first-time buyers may be getting help from their parents to fund their deposits, research from the Council of Mortgage Lenders (CML) reveals.

It says much of this help may itself be equity from housing, being used to help a new generation onto the housing ladder. The CML estimates over the past decade, the proportion of first-time buyers whose deposits were higher than their plausible savings has jumped from under to 10% to nearly 50%. It has also sub-divided first-time buyers into four distinct groups: Unassisted: first-time buyers aged under 30, using only their own savings to fund a deposit; Assisted: first-time buyers aged under 30, with additional funds for a deposit on top of their own savings; True: first-time ...

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