Originally published on March 27 on my blog for Inside Housing.
‘The Bank of Mum and Dad’ is one of those phrases that sound benign until you ask yourself what it really means.
What, after all, could be more natural than parents helping their children to buy a first home? And what could be wrong with mum and dad dipping into their pockets, or extending their mortgage, to get their son or daughter on to the housing ladder?
If we were just talking about some people being able to buy at a younger age than others, maybe not too much. But two reports out today show that the Bank of Mum and Dad is symptomatic of a much bigger problem in the housing system that is anything but benign.