Parents Re-Mortgaging for the Kids

Tuesday, June 28, 2011

LONDON, June 29, 2011 -

- Property Prices, University
and School Fees - a New Poll Finds
a Third of Parents Would Re-mortgage
Sell Their own Homes to Raise Funds
for Their Children

One third of parents would re-mortgage or sell their own home to
help their child get a foot on the property ladder according to a
new poll from money
saving website

With rising university costs 29% also said they would sell their
house to raise funds for their child’s further education, while
nearly 1 in 4 would re-mortgage their home to send their child to a
better school.

6% of parents questioned said they would sell their home to
allow their child to have a gap year or to take them on a world
holiday, while just 4% would raise funds through their property to
buy their child a car.

Doug Scott, managing director of href="">,
says: “Parents face a financially challenging time - on top of the
daily expenses, many now have to take on rising costs of school and
university fees, followed by trying to help their children get onto
a costly property ladder.

“For most the only way to help is by selling or re-mortgaging
their own homes, which can be a risky business for the whole
family.  It’s another sign of just how tough it is for parents
to save money and
keep up with the cost of living in the UK.”

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Media contact - Rachel Builder & Jenny White, Context, rachel.builder at , jenny.white at , T: +44(0)1625-511966

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