LETTING & ESTATE AGENT

Lending from the Bank of Mum & Dad Grows

Lending from the Bank of Mum & Dad Grows

Research from Legal & General has been released to show how dependence on parents is growing when it comes to being able to afford homes.

This year, parents will provide the equivalent of £5bn and will be involved in a quarter of all property transactions. This will go towards deposits for over 300,000 homes, worth a total of £77bn.

If Bank of Mum & Dad were an official mortgage lender, they would feature in the top 10 lenders in the UK