Parents help kids onto property ladder

Parents see it as their role to help their children afford their first home, according to a new study, often forking out considerable amounts in order to do facilitate this. One in five mums and dads have already given cash to assist their kids in getting onto the property ladder, Alliance & Leicester's survey showed, while a slightly larger proportion are planning on giving their children financial aid in this matter. On average, parents splashed out over £21,300 towards their children's homes, which typically cost over £162,000, having paid out nearly £17,700 previously and now planning a further contribution of £3,600.
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