Middle-class parents help children with mortgages

A survey by Saltus has found that 23% of parents with investable assets of £250,000 or more have helped their children to cover mortgage payments, with 20% covering their children's rent. Of those respondents with investable assets of £1m or more, 27% said that they were helping their children with mortgages and 22% covered rents. Mike Stimpson, a partner at Saltus, said: "Traditionally, parents have helped out their children with deposits on houses, and other investments that grow with them, but now we're increasingly seeing clients forced to bring those investments forward to help their children with everyday costs such as mortgages and household bills." 

The Times (24/06/2023)