The Bank of Mum and Dad (BoMaD) continues to lend a hand, forking out an average of £19,000 to help first-time buyers (aged under 35) onto the property ladder.

BoMaD continues to occupy a major role in the property market, with 56% of buyers under the age of 35 receiving financial support from this prolific lender, and £1.36bn going towards the purchase of 73,160 properties in 2020.

This assistance has been so crucial that 71% of these new homeowners say they would have been unable to buy without it.

 

Older kids receive help too

Not just reserved for younger age groups, over-35s were expected to receive £2.14bn from BoMaD towards their house purchase last year, accounting for 61% of total BoMaD lending.
Your home may be repossessed if you do not keep up repayments on your mortgage

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(Your home may be repossessed if you do not keep up repayments on your mortgage)

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For Lifetime Mortgages/Equity Release the fee will be £799.

Our mission is to provide honest mortgage advice, whilst helping you save money.

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Providing helpful and friendly mortgage advice in Southampton

First Floor, 9 Salisbury Road, Totton, Southampton, SO4O 2HW

02380 224 925

info@southcoastmortgages.com

South Coast Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered Office: 59 The Avenue, Southampton, Hampshire, SO17 1XS. Registered Company Number: 08414746 Registered in England & Wales.