Money Minder UK

« Return to news section
Bank of Mum and Dad: Making sure you can afford it and understanding the tax implications #WednesdayWisdom

In Brief: Bank of Mum and Dad: Making sure you can afford it and understanding the tax implications #WednesdayWisdom

Wednesday, 13 January 2021

New research shows that the Bank of Mum and Dad will be a driving force behind the recovery of Britain’s housing market as buyers struggle with the economic impact of COVID-19[1]. Nearly one in four housing transactions (23%) will have been backed by the Bank of Mum and Dad in 2020, with a quarter (24%) of borrowers now more reliant on financial support from family and friends.

Full article »

« Return to news section
Please be aware these articles are for general information purposes only and correct at time of printing. We will not accept responsibility for any errors made or actions taken by any readers that have acted on the information contained. Answers given are for guidance only and specific advice should be taken before acting on any of the suggestions made. All information is based on our understanding of current tax practices, which are subject to change. Always remember when investing, past performance is not necessarily a guide to future performance and the value of some investment units can fall as well as rise.