bank of mum and dad

Younger generations may no longer be able to rely on Bank of Mum and Dad

9th October 2024 Arrears and Recoveries | #bank of mum and dad

New research by Aegon has shown that younger generations of adults may no longer be able to rely on the so-called ‘Bank of Mum and Dad’ as patterns of wealth across generations evolve. The trend of 20- and 30-year-olds being financially supported by their parents is set to go into reverse – as a clear…

Bank of Mum and Dad has shared £98bn in five years

14th November 2023 Alternative Consumer Lending | #bank of mum and dad

Latest research from SunLife has indicated that the Bank of Mum and Dad has handed out £98 billion over the past five years, with parents over the age of 50 helping their children to get onto the property ladder, pay bills and settle debts. The study, which used data from SunLife customers and the Office…

Bank of Mum and Dad paid out £8.8bn in 2022

16th March 2023 Consumer Lending | #bank of mum and dad

Gifts and loans from the Bank of Mum and Dad totalled £8.8 billion in 2022, according to the latest analysis from property firm Savills. This amount has increased by almost £4 billion since the start of the pandemic (2019), as a result of a more stringent mortgage market and higher deposit requirements. In total, 170,000…

Bank of Mum and Dad financing more than home deposits

6th January 2022 Alternative Consumer Lending | #bank of mum and dad

New research by Interactive Investor has found that Bank of Mum and Dad are financing more than home deposits. The research found that helping with university costs (58%), allowing adult children to stay at home, rent-free (50%) and buying a car or helping with car-related costs (46%) were all more common ways of financially supporting…

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bank of mum and dad

Younger generations may no longer be able to rely on Bank of Mum and Dad

Bank of Mum and Dad has shared £98bn in five years

Bank of Mum and Dad paid out £8.8bn in 2022

Bank of Mum and Dad financing more than home deposits

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