Parental Ladder

Record mortgage lending has been boosted by parents helping their children take the first step on to the property ladder. Late last year Anthony Leigh remortgaged his home in Bexhill-on-Sea so his daughter Vicky could buy her first home while still at university. He will be paying an extra £500 a month after he struck a deal with Nationwide building society to borrow another £100,000 against the value of his home, which has rocketed in value since he bought it 23 years ago.