Spotted by Lola at Money Age:
The ‘Bank of Mum and Dad’ (BoMaD) will be a driving force behind the recovery of the UK’s housing market in the wake of the COVID-19 crisis, according to new research from Legal & General and CEBR.
L&G revealed that almost one in four housing transactions (23%) will be backed by the BoMaD in 2020, with 24% of borrowers now more reliant on financial support from family and friends.
From The Telegraph, via MSN:
Average house prices rose by a little over £3,000 in August as the property market reversed losses made during the pandemic and hit a new all-time high.
The cost of a home in the UK hit £224,123 in August, a 2pc increase from the month before, according to the Nationwide building society. It also marks a rise of 3.7pc compared to August last year.