Step Up for Families ; From April, Parents Can Use a Self Invested Personal Pension to Help Their Children Buy Their First Home

Evening Standard - London › September 28, 2005

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Summary

GETTING your adult child to leave home becomes ever more difficult as the price of that first flat carries on upwards. The average price of a property in London and the South-East is now Pounds 238,950 and Pounds 215,456 respectively, according to the Halifax.

And with very little available anywhere within commuting distance for less than Pounds 150,000, getting on to the property ladder is still way beyond the means of the average 25-year-old on a salary of Pounds 20,000 to Pounds 25,000 a year.

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Extract

Step Up for Families ; From April, Parents Can Use a Self Invested Personal Pension to Help Their Children Buy Their First Home

But technical wizard Ray Boulger at mortgage broker John Charcol, is working on a scheme which, from next April...

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