Over-55s feeling the pinch from being the ‘bank of mum and dad’

15th April 2019

The Bank of Mum and Dad plays a major role in the housing market but providing support could leave them feeling the pinch as they approach retirement. Recent research1 found that 17% of parents felt they either would be, or already are, worse off as a result of providing financial assistance to loved ones. It makes good sense for ‘lenders’ to seek professional advice to protect their own financial interests too.

1Legal & General, Aug 2018