Property News · May 8, 2016

It’s boom time for bank of mum and dad – if you chose the right parents | Barbara Ellen


The return of 100% mortgages just shows that however much things change, they tend to stay the sameIn the same week that the Halifax decided to increase its age limit for borrowing, so that mortgage terms are extended to the borrower’s 75th or even 80th birthday, Barclays announced the reintroduction of 100% mortgages for the first time since the Noughties recession.The changes have been made in response to ageing demographics, and changing work practices and borrower profiles. It’s a picture that includes people who haven’t paid off their mortgages by the traditional retirement age, people working for longer than they used to and the increasing role of parents in helping their children on to the property ladder. Continue reading…

Source : theguardian.com
Read more…It’s boom time for bank of mum and dad – if you chose the right parents | Barbara Ellen

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