Three in four (76%) homeowners expect to support their children financially, research from equity release adviser Key has found.
What is more one in five (22%) plan to help out their grandchildren
Average handouts for children are nearly £17,000 and for grandchildren £11,300.
Will Hale, chief executive of Key, said: “The over-55s are truly a generous generation, with many looking to access their housing equity help out their children and grandchildren.
“Of course not all over-55s are homeowners and not all can afford to give money but those who can generally want to.”