• David Tarry MBA

Interesting Times...

The 'Bank of Mum & Dad' has been a term used by many in recent times where parents are 'gifting' a deposit to their kids to help them get on the housing ladder. In some areas, like London & other key cities, it's almost impossible to buy a property without some help.

However, is this all set to change? Maybe...

Nationwide are the first lender to announce the restriction on the 'bank of mum & dad' and it's already having a negative impact on people. This article from the BBC highlights it perfectly...and I think this could be the start of even more restrictions from lenders as they get more & more nervous about the economic impact of Covid-19 across the UK.