‘Bank of mum and dad’ pays out £2 billion to help first time buyers

‘Bank of mum and dad’ pays our £2 billion to help first time buyersA new survey has highlighted the massive ‘withdrawals’ many children are making from the ‘bank of mum and dad’, to help get onto the housing ladder. The research, undertaken by the housing charity Shelter and involving more than 15,000 people, shows on average parents are contributing £17,000 of the average £28,000 deposit needed by first time buyers. Staggeringly, the support of parents equates to ...

Housing & Mortgage round up: Mortgage fees on the rise, whilst borrowers are left exposed

Housing & mortgage round up_istockphotoNo house price surveys to report this week, instead we focus on news that mortgage arrangement fees are on the rise, whilst a lack of savings is leaving millions of mortgage borrowers hugely exposed if they lose their job. We also bring you research which goes someway to dispel the myth that first time buyers rely on the bank of mum and dad for their mortgage deposit. Mortgage fees on the rise Despite interest ...

Housing & mortgage round up: The ‘bank of mum and dad’, repossessions fall and mortgage overpayments

The ‘bank of mum and dad’ repossessions and mortgage overpaymentsWe are delighted to bring you a wide range of stories this week, with not a single house price survey in sight! We look at new research which shows just how vital the ‘bank of mum and dad’ is to first time buyers, predictions for the housing market in 2013, the latest repossession figures and an increase in the number of people overpaying on their mortgages ‘Bank of mum and dad’ grows in popularity We’ve written ...

6 financial tips for grandparents

In the current financial climate the 'bank of mum and dad' is often needing to stay open for longer. We are seeing more and more instances of grandparents needing, and indeed wanting, to help out their financially stretched children and grandchildren. We’ve put together six financial tips for grandparents to help guide you through these tough economic times. Tip 1: Save tax efficiently It’s pretty obvious that the less tax you pay on savings and investments you make for your grandchildren the better the return will be....