Bank Of Mum And Dad 'One Of UK's Biggest Mortgage Lenders'

Parents spend so much money to get their children onto the housing ladder that they are now among the biggest lenders in the UK, a survey suggests. The average parental contribution for homebuyers this year is £24,100, up by more than £6,000 compared to last year, according to Legal & General (L&G). Collectively parents have given £6.3bn, high enough to rank the bank of mum and dad 10th if it was a mortgage lender. Clydesdale Bank, the UK's 10th largest mortgage lender lent £5bn last year. Read more on the BBC website.

https://www.bbc.co.uk/news/business-49477404