/24-7PressRelease/ - LONDON, UK, August 16, 2006 - As per reports, Britons are advised to save money for their children. This money would help these children in future. A new research is done by the Children's Mutual, revealed an interesting assumption. According to this research if Britons would have formed Child Trust Funds eighteen years ago and added 36 a month, then till now, they would have achieved the average sum needed to buy a child, his very first home.
If, it had happened, then, in this period, this trust would have saved the average 17,677 that would be the average amount needed by a first time buyer to get hold over his first time buyer mortgage.
David White, chief executive of the Children's Mutual, said that, "Research is showing that almost 50 per cent of parents are planning to help their children buy their first home"
Then, he went on to say that, "But 17,677 is a lot of money to find. For parents of younger children, saving regularly over the long term can help to avoid the headache of finding a larger lump sum as they head toward retirement age."
He further added that, "the Child Trust Fund has been designed so anyone can contribute financially to a child's future and we are seeing many grandparents and other family members helping to top up accounts."
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