The bank of Mum and Dad....
Why the property ladder can be more slippery for those with parental help...
It seems as if Prince Harry isn’t the only one to turn to grandparents for help…. (For those who haven’t seen the video clip Their Royal Highnesses are seen giving a pithy retort to Barack and Michelle Obama's Invictus Games challenge.) First time buyers are also looking to their elders for help, specifically the Bank of Mum and Dad (or Granny and Grandpa) to help them with a deposit for a step onto the housing ladder.
To learn more about the issues which both parties should consider carefully at the outset go to Spear's Wealth Management.
Related in brief posts
The Court of Protection and the vaccine: to administer or not to administer - Nicola Boulter considers two recent Court of Protection decisions.
Two decisions under the Inheritance (Provision for Family and Dependants) Act (enabling a spouse/civil partner and others, to bring a claim if a Will fails to make reasonable financial provision for that person) have produced very different results.
March sees the launch of the Treasury Committee’s report ‘Tax after coronavirus’, Budget Day and a later release of tax related consultations and calls for evidence. Join our experts at 11am on 24 March to see how these developments may affect you.