Alliance & Leicester Mortgages: Parents feel the pinch of providing financial help
www.moneynews.co.uk > Mortgages > Alliance & Leicester Mortgages: Parents feel the pinch of providing financial help
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Alliance & Leicester Mortgages: Parents feel the pinch of providing financial help
Thu 3rd Aug 2006
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Over half of all parents consider financially helping their children to invest in property as part of their responsibilities and the recent study found that dads are more giving than mums under these circumstances.
Not all parents are sympathetic though and many let their children fend for themselves.
However, on average parents were found to be £4,000 more generous than was expected by young first-time buyers.
Stephen Leonard, director of mortgages at Alliance & Leicester, said: "Our research reveals that many parents are planning to support their children well past the age of 18, especially when it comes to their first home."
"As house prices continue to rise, it is no wonder first time buyers are looking for that bit of extra funding from their parents to get on the property ladder," he added.
Alliance & Leicester also offers a range of personal loan and current account products.
Related News : Mortgages |
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Related News : Alliance & Leicester |
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