Britons are owed over 25 bln pounds from relativesNovember 14th, 2007 - 8:31 am ICT by admin
Half have given a handout to a relative in the last ten years, the Daily Mail reported, adding that a tenth have handed over more than 5,000 pounds and one in 25 has parted with at least 10,000 pounds in a lump sum.
The average loan is 1,928.15 pounds compared to 1,510.17 pound ten years ago.
The study results suggested that an eighth of grownup children have lent funds to their parents, with a third of those paying off bills for their mothers and fathers.
“It’s well known many homebuyers rely on the bank of mum and dad for help purchasing a property… But getting loans from the ‘financial family’ is extending to areas such as paying bills,” Jennifer Holloway, of the Skipton, said.
“This is perfectly understandable when the cost of living is rising - but the cost of relationships that suffer as a result should also be considered,” Holloway suggested. (ANI)
- British kids lending cash to hard-up parents - Aug 11, 2012
- British couples find kids too costly - May 11, 2012
- British graduates to remain in debt till mid-50s - Nov 11, 2010
- Anderson in tax trouble - Apr 17, 2012
- Obese claimants claim 10 mn pounds in Britain - Jul 10, 2010
- How To Get The Best Mortgage Rates, Five Smart Moves - Oct 02, 2010
- Rangers' invisible £24m being investigated - Feb 17, 2012
- RBI tightens norms for home loans, rates may go up - Nov 02, 2010
- Julius Erving ordered to pay over $230,000 for an unpaid loan - Jun 04, 2012
- Men spend 24,000 pounds on women before wedding - May 30, 2011
- Eight in 10 Britons faking incapacity to work for dole - Jan 26, 2012
- U.S. homes could decrease $1.7 trillion in value, report says - Dec 09, 2010
- Mexicans paid $2.77 billion in bribes and 'tips' in 2010 - report - May 11, 2011
- 750 Britons get one mn pounds as health compensation - May 31, 2011
- Destroyed coastal habitats may release tonnes of carbon - Sep 07, 2012
Tags: bln, british people, britons, cost of living, daily mail, family members, homebuyers, jennifer holloway, lump sum, mothers and fathers, mum and dad, relatives, skipton building society, understandable