3
Jul
Parents 'helping their children to buy a home'
More and more parents are taking advantage of low house prices to
help their children purchase their first property, statistics
show.
Lloyds Banking Group claims that a fifth of people give their
offspring money to aid them in their first steps on to the housing
ladder.
This often occurs when they go away to university and the low
interest rates on cash deposits could mean that now is the perfect
time to make such an investment, the Daily Mail reports.
Further research conducted by Propertylive discovered that parents
may do well to chose a two-bedroom, rather than the traditional
one-bedroom flat for their children because of the current
market.
Charles Smailes, chairman of Propertylive, said: "By going for a
two-bedroom rather than a one-bedroom property, parents should see
good returns on their investment."
In other news, the Times recently reported that increasing numbers
of people are choosing to purchase their first home from their
landlord to save them the bother of moving.
