Not everyone uses the Bank of Mum and Dad

Sam Slator 01/06/2017 in Basics

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

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