18 May 2005
Nearly one fifth of UK families receive help from grandparents to provide financial support for their children, new research reveals today.
Across the UK, grandparents are collectively spending more than £4 billion each year to help families with childhood costs, which works out at an annual average of £2,303 per family.
According to Barclays, which carried out the research, nearly a quarter of this cash is used to help children get on to the property ladder, either via house deposits or contributing to mortgage repayments.
However, for families where this is not an option, secured loans are a solution for helping to pay for children to get through university, as well as other important rites of passage.
Compare secured and unsecured loans at uSwitch. Find the most suitable loan for you.
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