It is predicted that 25% of UK mortgages in 2016 will be financed by the 'bank of mum and dad'.
Stats from Legal & General and CEBR predict that parental loans will equate to £5 billion over the course of the year, helping to fund the deposits on over 300,000 mortgages with a total purchase value of homes £77 billion.
The average parental contribution is £17,500 or 7 per cent of the home value.
Bank of Mum and Dad is huge, but not enough to solve housing crisis https://t.co/ZmmFkaWx8c pic.twitter.com/kDsQa3qL6m
— The Telegraph (@Telegraph) May 3, 2016
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