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.