House buyers 'seek parental cash'
The number of graduates borrowing from parents to fund a property purchase has doubled in the past 10 years, a Scottish Widows survey suggests.
In 1996, 9% of graduates buying a home borrowed money from their parents, but by 2006 this had risen to 18%.
Overall, more than £2bn has been lent by UK parents over the past 10 years. The average parental loan is £12,188.
However, parents are increasingly asking that loans to children to buy a home are repaid.
Yet parents are not adopting hard-nosed tactics; one in six do not set a deadline for repayment of the loan.
Nearly four out of 10 graduates said they would have no chance of buying property without a loan from their parents.
The vast majority of the parental cash is being used to fund a deposit on a home.
But nearly a quarter of graduates receiving a loan from their parents use it to pay stamp duty on a property.
"It is clear that it is becoming more and more difficult for graduates to get on the property ladder without any assistance," said Richard Clark, Scottish Widows spokesman.
"Even graduates who have been working for several years are forced to borrow money (from parents)... some of these loans are leaving the bank of mum and dad empty," he added.
Many graduates are also relying on parents for a roof over their heads after they leave university.
Scottish Widows found that nearly one in five graduates move back in with parents after university.
YouGov interviewed more than 3,500 people under age 50 for the survey.
Source: bbc.co.uk
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