Blog

Latest Updates from

First Class Mortgage & Protection

How The Bank of Mum & Dad Is Helping To Drive The Recovery of The Mortgage Market

Posted on

We’ve recently seen high Loan To Value mortgage products withdrawn and lenders getting stricter on lending, making it more difficult for First Time Buyers to get onto the property ladder. But despite the bleak economic forecast, the Bank of Mum and Dad has never been so important to help fund mortgage deposits.

How could equity release support?

But what about those parents who aren’t in a position to support their children with their savings? That’s where equity release could help, enabling parents over the age of 55 to pass some money onto their children with less impact on their own lifestyle or retirement plans.

Source: Legal & General Bank of Mum and Dad research October 2020

Contact Us Today To Learn More

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR REPAYMENTS