Leese and Nagle Search menu
Search for your new property
×
Search for your new property

Bank Of Mum & Dad

Back

Nearly a fifth of over-55s (19 per cent) are gifting money because they feel they have a responsibility to help. However 26 per cent of BoMaD lenders are not confident they have enough money to last their retirment after providing support. Parents are increasingly using equity release to help family with deposits and fund retirement. 

The new research shows that the Bank of Mum and Dad is drawing on a wide range of sources to financially support other family members with a deposit. More than half are using cash (53 per cent), 9 percent are cashing in lump sums from their pension savings, 7 per cent are using their pension drawdown and 6 per cent are drawing on their annuity income to help family members buy a home. 

box
facebook
box

" Straightforward, honest advice. "

Russell Attwood

Our community

box
news
selling
box

" First class personal service all the way "

Gareth Brown

Our community

twitter

" Totally Professional "

Anne Marie Mulholland

Our community

box

" Excellent throughout the process "

Alex Bryant

Our community

box
team
box
history

" I appreciate your efforts getting this over the line.  "

James Brown

Our community

box
community
box
instagram
box
in-touch