Amazing Statistics About The Bank of Mum & Dad

Banks and lending
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May 31, 2017

Amazing Statistics About The Bank of Mum & Dad

Did you know that there is a Bank of Mum & Dad? A recent report by State Custodians said that the Bank of Mum & Dad is the 5th largest lender to first home buyers.  There are many ways this particular ‘bank’ can assist it’s lenders:

  • Gifting funds for a deposit
  • Allowing the use of equity in their own home to be used
  • Allowing children to stay at home rent free, whilst they save

Do you have access to the Bank of Mum & Dad?  If so, it might be a good time to tee up a chat with them!

 

Lee
Lee

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