5th Sept '08 - Big Kids Could Take Pressure off Mum and Dad with Secured Loans
Posted on Friday, September 05th, 2008 at 5:02pm
Adult children might want to consider taking out secured loans rather than asking for hand-outs from their parents.
Research from LV= has found parents in the UK spend £233 billion financially supporting their grown-up children.
The survey also revealed 2.3 million grandparents are contributing money to two generations – their children and their grandchildren.
And in the current economic climate this means belts are being pulled tighter and tighter.
Nigel Snell from LV= said: "Parents are the hardest hit."
Grown-up kids who have their own house may be surprised at the competitive rates that are available on secured loans if they are willing to shop around.
Research from LV= has found parents in the UK spend £233 billion financially supporting their grown-up children.
The survey also revealed 2.3 million grandparents are contributing money to two generations – their children and their grandchildren.
And in the current economic climate this means belts are being pulled tighter and tighter.
Nigel Snell from LV= said: "Parents are the hardest hit."
Grown-up kids who have their own house may be surprised at the competitive rates that are available on secured loans if they are willing to shop around.
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