bank of mum and dad

Bank of Mum and Dad

With rising house prices outpacing income an increasing number of young people will borrow from parents and family in order to get onto the property ladder. The 10th largest mortgage lender The combined amount which parents and grandparents will be prepared to gift or loan their children to help them buy their first home is estimated to be £5bn. This puts them alongside the 10th largest mortgage lender in the…