Bank of mum and dad to the rescue during cost of living crisis

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A quarter of over-50s expect to support their adult children in the cost of living crisis

63% believe the crisis will affect their children's finances more than Covid-19. Rising bills, rents and mortgage payments mean parents feel inclined to help. 15% of parents plan to gift money to their adult children as support.

5% of parents aged over-50 are also now considering equity release

 

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