Parents gave out just under £10billion to their children in the last financial year across the UK. The record sum doled out for things like flat deposits, university fees or a car compares to £6billion in 2020.
And these days the so-called bank of mum and dad helps out with around a fifth of first home buys. On average, a deposit of £46,000 is needed, compared to £21,000 10 years ago.
This story is from the December 22, 2024 edition of The Sunday Mirror.
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This story is from the December 22, 2024 edition of The Sunday Mirror.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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