THE WEST SUSSEX PROPERTY BLOG // BANK OF MUM AND DAD TO LEND £5.7BN THIS YEAR
Bank of Mum and Dad to lend £5.7bn this year
According to Property Reporter, the latest data and analysis from Legal & General and Cebr, has shown that parental help equating to an eye-watering £5.7bn will be needed for quarter of housing transactions during this year. Here at GL & Co, we are sure this will resonate with many of our customers.
According to the report, 27% of buyers will receive help from friends or family, a rise of 2% when compared to the previous year. This year, the Bank of Mum and Dad will help 316,600 loved ones buy a home - up from 298,000 in 2017.
The value of parent-supported property purchases in 2018 will rise to £81.7bn, representing a £4.2bn or 5% increase since 2016. Continue reading this article here.