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TheCountOfNowhere

Bank Of Mum And Dad Used By 27% Of First-Time Buyers

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TBH 27% looks very low estimate

Well combine that with their children's own deposit and it probably amounts to a deposit of at least a 1/3 of the price (if not more) - I guessing, but I suspect lending is easier or rates better with a nice hefty deposit

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Well combine that with their children's own deposit and it probably amounts to a deposit of at least a 1/3 of the price (if not more) - I guessing, but I suspect lending is easier or rates better with a nice hefty deposit

There's always been a reason why the banks are offer 2% mortgages with anyone will to stump uip a 50% deposit.

Eventually people will find out why

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....or mum and dad borrowing from equity to pass to kids to put down as a deposit so as they can borrow to buy......very little is earned now today to use, it is borrowed from the future.....banking on forever increasing house prices, rising in value far greater than inflation, far greater than normal pay increases......pop! ;)

Edited by winkie

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