{"id":1457,"date":"2016-05-03T15:33:42","date_gmt":"2016-05-03T15:33:42","guid":{"rendered":"http:\/\/www.fpgonline.co.uk\/?p=1457"},"modified":"2023-09-19T11:14:57","modified_gmt":"2023-09-19T11:14:57","slug":"bank-mum-dad","status":"publish","type":"post","link":"https:\/\/www.fpgonline.co.uk\/index.php\/bank-mum-dad\/","title":{"rendered":"Bank of Mum and Dad Becomes Top Ten Mortgage Lender"},"content":{"rendered":"<p>According to reports in the press today, \u2018The Bank of Mum and Dad\u2019 is now equivalent to one of the UK\u2019s top 10 mortgage lenders with an estimated \u00a35bn plus set to be \u2018lent\u2019 in 2016.<\/p>\n<p>Research conducted by L&amp;G\u2019s Centre for Economics and Business Research estimates that wealthy parents will be involved in 25% of mortgage\u00a0transactions \u00a0in the UK this year, backing the purchase of 300,000 homes, worth almost \u00a380bn.<\/p>\n<p>On average, parents will back their children to the tune of \u00a317,500, or 7% of the average purchase price, with 57%\u00a0of contributions as gifts. The report also predicts that 18% of contributions will be loans with no interest, with\u00a0just 5%\u00a0including interest.<\/p>\n<p><strong>To speak Steve Padgham about your property finance or mortgage requirements, or to find out how to go about securing the best low-rate deal currently on the market six months ahead of your current deal ending, please call him on 020 8614 4782, or e-mail\u00a0<a href=\"mailto:steve.padgham@fpgonline.co.uk\">steve.padgham@fpgonline.co.uk<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to reports in the press today, \u2018The Bank of Mum and Dad\u2019 is now equivalent to one of the UK\u2019s top 10 mortgage lenders with an estimated \u00a35bn plus set to be \u2018lent\u2019 in 2016. Research conducted by L&amp;G\u2019s Centre for Economics and Business Research estimates that wealthy parents will be involved in 25% [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1457","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bank of Mum and Dad Becomes Top Ten Mortgage Lender - The Financial Planning Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fpgonline.co.uk\/index.php\/bank-mum-dad\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank of Mum and Dad Becomes Top Ten Mortgage Lender - The Financial Planning Group\" \/>\n<meta property=\"og:description\" content=\"According to reports in the press today, \u2018The Bank of Mum and Dad\u2019 is now equivalent to one of the UK\u2019s top 10 mortgage lenders with an estimated \u00a35bn plus set to be \u2018lent\u2019 in 2016. Research conducted by L&amp;G\u2019s Centre for Economics and Business Research estimates that wealthy parents will be involved in 25% [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fpgonline.co.uk\/index.php\/bank-mum-dad\/\" \/>\n<meta property=\"og:site_name\" content=\"The Financial Planning Group\" \/>\n<meta property=\"article:published_time\" content=\"2016-05-03T15:33:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-19T11:14:57+00:00\" \/>\n<meta name=\"author\" content=\"fpgonline\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"fpgonline\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.fpgonline.co.uk\\\/index.php\\\/bank-mum-dad\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.fpgonline.co.uk\\\/index.php\\\/bank-mum-dad\\\/\"},\"author\":{\"name\":\"fpgonline\",\"@id\":\"https:\\\/\\\/www.fpgonline.co.uk\\\/#\\\/schema\\\/person\\\/ca7cc77e66f7465100af51d9355d408c\"},\"headline\":\"Bank of Mum and Dad Becomes Top Ten Mortgage Lender\",\"datePublished\":\"2016-05-03T15:33:42+00:00\",\"dateModified\":\"2023-09-19T11:14:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.fpgonline.co.uk\\\/index.php\\\/bank-mum-dad\\\/\"},\"wordCount\":168,\"commentCount\":0,\"articleSection\":[\"Latest News &amp; 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