Parents in Ireland are being urged to sign up for a new product which sees them borrow against their houses to give their children a foot on the property ladder.
Building society EBS is promoting its “Family First” product with the phrase “turn your house into their home” in a move that is expected to cross over to the UK.
The move by EBS is the first time a product has been tailored and marketed to meet the growing trend for parents to release equity from their houses for their children as the market becomes increasingly difficult for first-time buyers.
References: Financial Times 22/02/03 page 4
