Marilee Pott, AMP
Want someone who is looking out for your best interests? I work hard for you to find the best products and services to suit your mortgage needs. Whether it be to purchase a new home or cottage, a rental property, or to refinance your existing home, I will put my expertise to work for you! Finding a mortgage that best suits your needs and situation can be time consuming, with access to over 30 mortgage lenders, I will ensure you get the best, unbiased mortgage plan. With over 15 years of customer service experience, I pride myself in the excellent cu ...
Is helping children buy their first home becoming ‘the next parental responsibility’?
Date Posted: November 18, 2014
A study from the Canadian Associated of Accredited Mortgage Professionals (CAAMP) shows that on average, first-time buyers are putting down 21% of the purchase price and that on average, 13% of that money comes from family.
A Toronto-based certified financial planner says in his practice, he sees an increasing reliance on parental support to buy a home. Due to the righter mortgage rules that have been put in place in the last couple of years, this may be playing some part in people helping out their children.
Kevin Lee, chief executive of the Canadian Home Builder's Association, says family support is a function of the affordability issues now in the marketplace. Financial planners and credit counseling societies across Canada are now cautioning parents to really encourage children to save at the same time as they are giving them money.