'Bank of Mum and Dad' is now a £5bn mortgage lender

Helen Knapman

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In 2016, parents in the UK will lend their children £5 billion to buy their first home or move up the property ladder, a new study has revealed.

In 2016, parents in the UK will lend their children £5 billion to buy their first home or move up the property ladder, a new study has revealed.

This means the Bank of Mum and Dad will hep finance 25% of all UK mortgage transactions, making it a top 10 lender.

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Source Moneywise http://ift.tt/1TiuDJd