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.
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