Quarter of grandparents assist grandchildren become first-time buyers

A quarter of grandparents have assisted – or are planning to help – their grandchildren become first-time buyers, a new study suggests. The proportion of grandparents helping out financially has risen by a third since 2016 when the research was last carried out by insurer Aviva. The average amount given by grandparents has also increased to around £31,000 – 25% higher than six years ago. Grandparents who help their grandchildren to buy a property typically do so using their own savings or by releasing value from their own home, Aviva says. 

Daily Mail (03/08/2022)