Grandparents sitting on embarrassingly huge piles of equity thanks to buying houses for £50 in the 1950s are feeling a little guilty about their fortunate timing life win, with many thinking about leaving large chunks of their inheritances to their grandchildren rather than their almost as fortunate children.
That's according to a survey of around 6,000 older folk carried out by pension company Royal London, which looked at how attitudes to handing on money and homes are changing. It reckons that billions of pounds might skip a generation and head from grandparents straight to grandchildren, as the older generations realise they've had it pretty good with the house price escalator and cut the baby-boom generation out of the inheritance line.
And even if the grandparents leave it all to their children, many of them are planning to pass it straight on to the grandkids anyway. Which is good news for anyone lucky enough to be young and have parents and grandparents that own houses. Everyone else: continue dreaming of having more than one room with your bed next to the cooker. [Independent]
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