Long Live Mom and Dad…

There has been long held belief that the ‘Bank’ of Mom and Dad has been closed for business, meaning that first-timers have been forced to stay in rented or worse still, stay
at home. Recent changes in interest rates may mean that the ‘Bank’ could re-open for business!

This, utilising a greater choice of fixed-rate mortgage deals, should give parents encouragement to release equity to fund a leg-up onto the property ladder. Some savvy parents, with an eye on the future, have been buying properties for the kids whilst at their University. Either way, some much needed confidence should be entering the market soon…”