Credit unions to offer loans to parents - for child's house deposit
The parents of adult children looking to get onto the property market could be aided by Credit Unions.
The reports that credit unions are set to offer loans to parents who can show they can make repayments, so they can help their offspring get around the Central Bank's deposit rules.
Under the guidelines, house buyers are required to save a 20% deposit before applying for a mortgage - with first time buyers asking to save 10% for homes valued up to a maximum of €220,000.
