
The Bank of Mum and Dad
With property prices skyrocketing, recent studies have shown that more and more purchasers (first home buyers in particular) are relying on “the Bank of Mum and Dad” to help fund their foray into the market. So much so that “Mum and Dad” are now the country’s 9th biggest lender, with Digital Finance Analytics’ statistics indicating that more than 60% of property purchasers are receiving parental assistance to fund their deposit. Whilst it’s great for families to lend a hand,