Bank survey - Guarantor details linked to high costs

IN the past decade, more than one-third of people over 60 years have acted as guarantor or helped with a house deposit for their children.

This fact is contained in a survey by Bank of Ireland, which also shows that 85% of the over-60s are happy with their standard of living.

According to a previous survey by the same bank, the average Dublin house will cost about €532,000 before the year is out because mortgage lending rates will soar to record levels. Nationally, it reckoned the average price of a house at about €395,000.