'Bank of Mum and Dad will only grow' says property expert
Independent property expert Louisa Fletcher says she can only see the "Bank of Mum and Dad growing in stature as one of the biggest lenders".
Parents gave £5bn in 2016 to help their children get on the UK property ladder, according to data from Legal & General (L&G).
This huge sum ranks as highly as a top 10 UK mortgage lender, says L&G - however, Ms Fletcher warns that parents are only allowed to donate, not charge interest.
03 May 2016
- From the section Business