Helping grandchildren onto the property ladder

Rising rent prices across the UK, coupled with increasing house prices are making it more difficult for first-time buyers to step onto the property ladder, together with the requirement of a large monetary deposit that can take years and years to save. Factor in the withdrawal of a large portion of the deals available to first-time buyers and it begins to look even more challenging.

Given the difficulty grandchildren are facing whilst attempting to acquire their first mortgage, many grandparents are already stepping in to help, often finding it tempting to consider releasing equity from their home in order to help muster up the required deposit.

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