Dad buys four kids an apartment each for Christmas in Coronation's The Paper Mill
A father of four children has bought them all an apartment for Christmas.
The Sunday Telegraph reported finance worker Majed Akil was afraid his adult children would never be able to save up a deposit on their own, so used his savings and equity in the family home to put down deposits on four apartments in Liverpool.
They are in the Coronation’s The Paper Mill project at Liverpool.
The four siblings are aged 19 to 30.
Two have taken over the mortgages with their partners.
The other units will be rented out until the younger two complete their university studies and are ready to move in.
“I wanted to give them a head start because I think it has become impossible for our kids to save $100,000 to $150,000,” Mr Akil said.
He bought the two bedroom units off the plan for between $487,000 and $546,000.
The similar apartments are on different floors.
