sharethis

Sunday, August 29, 2010

Yet more data demonstrating the importance of Bank Mum and Dad

The press release from the Council of Mortgages lenders, in May 2007, said that 40% of young home-buyers get help from Bank of Mum and Dad.

Things have changed a bit. A total of 84% of first-time buyers under the age of 30 were given money from their parents towards a deposit during the last three months of 2009.

It is the highest proportion on record, according to the Council of Mortgage Lenders.

Isn't Bank Mum and Dad doing well? I do hope the Financial Services Industry understands the importance of this change in the funding of house purchasing. Dick Stroud

No comments: