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Half of FTBs want to borrow deposit

Nearly half of a prospective first-time buyers plan to borrow their mortgage deposit from their high-street bank, according to research from the AITC.

It shows 47 per cent are thinking of using a bank loan for their deposit while 38 per cent of people between 16 and 34 plan to ask their parents for the money.

The AITC conducted the research to demonstrate to parents how they need to save as their offspring are increasingly relying upon them in adulthood for financial assistance.

Buying a property is an immediate priority for 15 per cent of all adults but that figure rises to 24 per cent for 25 to 34-year-olds. Many believe it will take them some time to save for their deposit, with 55 per cent saying they think it will take them five years or more.

Over half are saving for a deposit, with 14 per cent investing in the stockmarket in shares or pooled collective investments.

Communications director Annabel Brodie-Smith says: “Parents beware. As a better alternative to the bank manager, the pressure could be on to produce large lump sums out of thin air. If you would like to help your children in this way it is easy to start saving with an investment trust regular savings scheme.”


Rothschild seeks wealth preservation

Rothschild Asset Management has established the protected wealth management service, a portfolio management service that protects the value of the investment against stockmarket falls when the investor dies. The service has three strategies &#45 UK capital growth, UK equities and income &#45 which are unit trust funds of funds. The UK capital growth strategy invests […]

HSBC – Performance Plus Isa

Wednesday, 2 January 2002. Type: Capital protected Tessa only Isa. Aim: Growth linked to the FTSE 100 index. Minimum-maximum investment: £3,000-£9,000. Investment choice: 100 per cent linked to FTSE 100 index. Term: Five years. Guarantee: Capital returned in full at end of term. Return: Up to 50 per cent at end of term. Catmarked: No. […]

UCB retains network&#39s award for best service

UCB Home Loans won the award for best lender service at mortgage network The Mortgage Power&#39s fifth annual awards at Northolt, Middlesex last week.It is the third year running that UCB Home Loans has won the award, presented at a ceremony attended by Mayor of Ealing Ranjit Dheere and Mayor of Hounslow Mohinder Gill.Ocaso received […]

Independent View – Peter Hargreaves

If someone looks at the performance statistics and finds last year&#39s top-performing fund, what it tells them is exactly that – what last year&#39s top-performing fund was.There are numerous reasons why it was the best-performing fund. However, the major ones are:•It was the right economy.•It was the right sector of that economy.•The fund manager had […]

What are the key changes to transform pensions?

By Fiona Tait, pensions specialist In her final article for Royal London, Fiona Tait reviews key changes she believes have transformed, or will transform, pensions. In my 12 years with Royal London I have been paid to review, study and explain the numerous changes to pension legislation which have transformed our industry in that time. This is […]


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