Article preview: Getting a foot on the property ladder requires a significant financial commitment, increasingly beyond the reach of first-time buyers. With property prices continuing to rise, and raising enough money for a deposit the biggest hurdle to home ownership, new research has identified a growing role for the Bank of Gran and Grandad. According to data analysis from Key, old homeowners gifted their grandchildren an average of £42,500 to help them buy a first home or move up the property ladder last year.
A little help from the Bank of Gran & Grandad
This 549-word blog post looks at new research from Key at levels of financial support from grandparents, helping to get younger relatives onto the property ladder or supporting their move to more expensive homes. Written on 26th February 2021.
Your purchase gives you rights to publish this blog post on your IFA, financial planner or wealth manager website blog, news or insights page, along with access to the text of the blog post to copy and paste into your blog. You can publish this blog as written or edit it before publishing, and you can post it under your name.