Children getting help from parents with mortgages says Lloyds TSB

24/10/2009

Many parents are helping their children get on the housing ladder by saving money to help them take out a mortgage.

Stephen Noakes from Lloyds TSB claims that 70 per cent of parents with adult children who do not own property think that it is now a good time to invest in a home.

Stephen Noakes Commented: "With the current situation and the uncertainty in house prices, we - and indeed the broader industry - are now requiring a higher deposit."

The research which was carried out by the bank also specified that 93 per cent of parents will carry on helping all their children regarding a mortgage.

Mr Noakes also added that the older generations are happy to help their kids.

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