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Posts Tagged: Lender

The Bank of Mum & Dad Now in the Top 10 of Lenders

Posted by on May 10th 2017 in Blog Posts, Property

The Bank of Mum & Dad Now in the Top 10 of Lenders

With the average first-time buyer requiring a deposit of £26,000 and the average annual salary being £27,600, it is no surprise that first-time buyers are getting older (the average age has increased from 30 to 33) and the number of people buying a property on their own is decreasing (from 29% in 1994/95 to 14% in 2014/15). More people are also now buying in couples – this has increased from 63% to 80% in the same time period. Parents are predicted to lend £6.5bn to their children this year, making them one of the top ten biggest mortgage lenders in...

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