Bank of Gran and Grandad deposits over £37 billion to help grandchildren

As a recipient of financial help from my parents for our children, I liked this research so thought I’d share it.

At a time when estate agents are warning that house price affordability is reaching a crisis point it seems that more people are turning to their grandparents in order to get a foot on the property ladder.  The Bank of Gran and Grandad has donated a total of over £37bn in funds to their grandchildren and one in ten grandparents say this money was to be spent on a deposit for a house.

The generous donations look set to continue as the research from Saga shows that a further third of grandparents are still considering or intending to give a financial gift and one in ten are considering lending money to grandchildren. The typical …