Not everyone uses the Bank of Mum and Dad

Sam Slator 01/06/17 in Strategy

Back in May, we learned the Bank of Mum and Dad has become the UK’s ninth largest lender, with parents expected to help to pay deposits on almost 300,000 mortgages in 2017.

Be that as it may, when we polled FundCalibre visitors¹, it turns out just 10% said they had received help to buy from family members. Another 20% said they had helped their children to buy, and an overwhelming 70% told us they had not used the Bank of Mum and Dad to buy a home.

We’ll take this as a good sign that you’re all saving and investing successfully instead!

¹Based on the responses of 63 FundCalibre site visitors between 1 May 2017 and 31 May 2017

The views of the author and any people interviewed are their own and do not constitute financial advice. However the knowledge that professional analysts have analysed a fund or trust in depth before assigning them a rating can be a valuable additional filter for anyone looking to make their own decisions. Before you make any investment decision make sure you’re comfortable and fully understand the risks. If you invest in fund or trust make sure you know what specific risks they’re exposed to. Past performance is not a reliable guide to future returns. Remember all investments can fall in value as well as rise, so you could make a loss.