In 2020, older homeowners released almost £755 million of equity in order to help younger members of their family meet a range of costs including supporting them with an average of £42,500 to use for a house deposit.*
This new research helps illustrate the extent to which younger buyers are being supported by their families in their bid to become homeowners or move up to the next rung of the ladder.
If you’re currently one of the many considering releasing equity to help your family buy their first home, it is vitally important that you get specialist advice.
How can we help?
If you have any questions about releasing equity from your home, then just give us a call or email, and we’ll be happy to discuss. click here for someone to give you a callback
This is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.