One in five parents readying themselves for retirement anticipate giving their adult children financial help, while 30% of their offspring are relying on it, according to Aviva. Research by Aviva showed that helping with a deposit for a house is the top reason for giving or receiving financial support, with 62% of parents expecting to help out their kids to buy a home, while 44% of children are relying on it. However, financial help does not come without its issues, with half of all parents who plan to support their children feeling worry, concern or anger at the thought of doing so into retirement.
In the UK, borrowers turn to mom and dad for house deposit
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