Under the plans, which are set to be unveiled this week at the party’s annual conference in Brighton, a future lump sum pension payout would be used to guarantee the mortgage.
The party says the extra security could result in making homes more attainable, as it could mean young people having to save up for a smaller deposit.
Clegg told BBC One’s The Andrew Marr Show: “We are going to work out ways in which parents and grandparents who want to help their children and grandchildren buy a property of their own.
“We are going to allow those parents and grandparents to act as a guarantee, if you like, so their youngsters… can take out a deposit and buy a home. It is a pension-from-property scheme.”
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Nick Clegg’s idea that pension savings should be used as a form of guarantee to help young people get on the housing ladder is ‘half baked’, insists pensions commentator Ros Altmann.
