In Brief: Why is the bank of Mum and Dad playing an ever-present role in the housing market? #FridayReads
Friday, 19 February 2021
To a large extent the Bank of Mum and Dad is filling the gap left by High Street mortgage lenders, many of whom have stopped offering high loan-to-value deals and/or have tightened criteria. Research shows that one in every two first-time buyers aged under 35 have received financial support from the Bank of Mum and Dad, with more than half (56%) of those under the age of 35 using a financial gift to help them step onto the housing ladder[1].
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