Everything clients need to know about the 'Bank of Mum and Dad'

A growing number of adult children trying to get their foot on the property ladder are turning to the ‘Bank of Mum and Dad,' according to a new report. With the cost of buying and owning your first home estimated to be at a 70-year high, rising house prices and rental costs are making it difficult for many young people to save a deposit, the Building Societies Association's ‘First-Time Buyer' report says.  Whilst parents might once have provided a safety net, acting as guarantor should children struggle to repay the mortgage, they are now more likely to be asked for money upfront, w...