20 Oct

Parents 'are helping children to buy houses for sale in the UK'

Parents 'are helping children to buy houses for sale in the UK'

Many retired parents are continuing to support their adult children financially by providing them with funds to purchase houses for sale in the UK.

A new survey from insurer Aviva has revealed that helping with a house deposit is the most common reason why retirees are either providing or are expecting to provide monetary support for their offspring.

According to the research, 62 per cent of parents are anticipating helping their children to buy a home, while 44 per cent of adults are expecting this.

The insurer stated that discussion of retirement finances should therefore not be a taboo subject among families.

Clive Bolton, retirement director for Aviva, said: "By discussing plans sooner rather than later, families can avoid confusion and disappointment later on."

This follows on from research published by Halifax earlier this month, which showed that 32 per cent of parents are willing to provide financial support to help their children buy houses for sale in the UK for the first time.ADNFCR-1222-ID-800126909-ADNFCR

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