31 May 2018
Bank of Mum and Dad report peaks national interest
The response to the latest research and forecasts from Legal & General Group, surrounding the financial pressures of co-dependent housing purchasing, goes to show how vital it is to fix the housing market.
Since our report was published, national press, broadcasters and social media have all shown huge interest in how being reliant on parental funding for house purchases is fast approaching breaking point. It was mentioned over 300 times on Twitter alone, resulting in the report being highlighted to over 16,000,000 people.
As the volume of property transactions dependant on Bank of Mum and Dad funding keeps on growing, parents are finding it harder than ever to provide money for the deposit.
BoMaD funding is a vital plank in the housing market, but this year the supply of funds is being squeezed. This is not a positive trend - nor is it sustainable or fair for our parents and young people to remain so co-dependent when it comes to housing purchases. We need to take action to fix the housing market and open up affordability for all.
Legal & General are making a positive difference in the supply of affordable residential housing as well as the towns and cities in which the homes are built. Jobs, infrastructure and economic growth are needed to create thriving communities where people can afford to buy.
To read the full report, please visit the link below.