The problem with loans from Bank of Mum and Dad | This is Money

The problem with loans from Bank of Mum and Dad | This is Money

Generous parents who stump up deposits for their children's first home could find themselves locked in a family dispute, experts warn.

The average first-time buyer needs a deposit of £31,000 for a home — the equivalent of almost their entire annual salary, according to the Council of Mortgage Lenders (CML).
With high rents, huge numbers of graduates unemployed, large student debts and low savings rates, it can be decades before first-time buyers can afford the hefty down payments needed to afford a home.