Bank of mu­mand dad helps young

Yorkshire Post - Property - - PROPERTY -

HALF of par­ents who want to help their chil­dren onto the prop­erty lad­der, plan to raise money from their own cash sav­ings, ac­cord­ing to new re­search from Cas­tle Trust.

As well as raid­ing their own sav­ings ac­counts, a third in­tend to raid their stock mar­ket-re­lated in­vest­ments and a quar­ter will use Ju­nior ISAs and Child Trust Funds. One in five say they will cut back on spend­ing in or­der to help their chil­dren on to the prop­erty lad­der.

The con­tri­bu­tion from the bank of mum and dad is likely to be £16,300 on aver­age.

Three out of four (73 per cent) par­ents don’t ex­pect to get the money back and do not see the hand­out as a loan, say Cas­tle Trust.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.