Parents 'spend more time helping first-borns on ladder'

First-born children receive more help getting onto the housing ladder than their siblings, new research indicates.

According to Abbey Mortgages, 17 per cent of first-borns receive money for their initial purchase from their parents compared to 12 per cent of second-borns.

However, while older children have a higher likelihood of receiving such a handout, their siblings often get more money if their parents help them.

Nicci Audhlam-Gardiner, head of mortgages at Abbey, comments that this may be because mums and dads have more disposable income in later life, so the youngest child may get the best deal.

She said: "Most parents tend to think they are very fair when it comes to financial gifts to their children, but what’s fair in one circumstance may not be fair in another."

Meanwhile, the BBC reports that the Council of Mortgage Lenders has warned buyers against mortgage fraud in the wake of a slowing market.

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