Finance

Bank of Mum and Dad, parents’ housing fears for their children

dreamstime_m_34685344.jpg

dreamstime_m_34685344.jpgThe National Housing Federation has released a report on parents’ housing fears for their children.

The report shows how rising housing prices, coupled with the current economic climate, has caused parents to worry about the impact this will have on their children’s chance of owning their own home.

With 25% of parents already saving money for their children’s first home – despite that fact that one in twenty is still reliant on handouts from their own parents towards housing costs. This report has highlighted parental fear that their children will not be able to afford a home in the future.

Alongside this, 80% of parents don’t feel that any of the mainstream political parties will effectively deal with housing issues, and two thirds fear that their children won’t be able to buy a home in the future without their financial support.

Steve Hicks, Managing Director of Genie said, “There needs to be more solutions available to help solve the housing crisis that the younger generation is facing.”

Click to comment

You must be logged in to post a comment Login

Leave a Reply

To Top

Sign Up For First Time Buyer Newsletter

Sign up for the free First Time Buyer newsletter and be the first to hear about offers and information exclusively for first time buyers.

Your email address will never be shared with third parties