With the gap between starter properties and family homes increasing due to rising property prices, property owners looking to invest in their second home are being forced to return to the bank of mum and dad for help.

Only 10 years ago all you needed was £14,000 on average to upgrade your property investment. Yet property owners (second steppers) are now faced with the dilemma of having to raise £41,000 in order to bridge the gap between flats and terraces to semi-detaches.

And as you can imagine it is a gap many are unable to afford! So what can these ‘second steppers’ do?

Well according to property experts a new trend is arising where property owners are returning to their parents for financial help. With their support they can raise the deposit needed to move up the property ladder and ensure there is continued fluidity across the market.

Yet this financial help may be coming at a price…

According to Age UK more and more of the older generation are entering into retirement owing money on a mortgage, a credit card or a loan.

In fact 1 in 5 over 60 year olds owes money, whilst 1 in 10 has had to borrow money to pay their mortgage or their rent.

And with many facing their own financial concerns, it does make you wonder how many parents are going to be able to afford to help their children to invest in property again.

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