Par­ents to the res­cue for buy­ers

Yorkshire Post - Property - - FRONT PAGE -

ECF, which is de­vel­op­ing the Mer­chant Gate apart­ments in Wake­field, say that par­ents are en­cour­ag­ing their chil­dren to pur­chase prop­erty.

A sur­vey at a re­cent mort­gage work­shop showed that in 57 per­cent of cases, the “bank of mum and dad” had sug­gested help­ing out rather than be­ing asked for a loan.

Pauline Sang­ster, res­i­den­tial sales and mar­ket­ing manger for ECF, says: “It seems that par­ents are all-too happy to as­sist their off­spring to get on the prop­erty lad­der and are pos­i­tively en­cour­ag­ing this, es­pe­cially when de­posits at Mer­chant Gate can be as low as five per cent.”

Prices at Mer­chant Gate start at £81,950, www. mer­chant­gatea­part­

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