by: Dick Stroud

Nearly a third of potential first-time buyers (31%) anticipate financial help from their parents, according to new research commissioned by the Council of Mortgage Lenders. But even more (35%) say that they would need financial help to be able to enter the housing market.

Among all of those who are already home-owners, 23% say that their parents helped them. But for younger, more recent buyers, the figure is much larger. 39% of those aged under 30 had received help, and more than 40% of those who have entered the market since 2004.

I wonder if mortgage lenders have taken on board the implications this research. The over-50s are clearly an important part of the decision making process about sources of finance when their kids buy a house.

Original Post: http://www.20plus30.com/blog/2007/05/bank-of-mum-and-dad-lend-18000-on.html

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