More first time buyers than ever are relying on financial help from parents, and the trend looks set to continue in 2019. The amount they provided last year makes the Bank of Mum and Dad the 12th biggest mortgage lender in the UK.*
In response to increasing demand, we’ve introduced a new, standalone parental help to buy Insolvency Act policy (lender only), which is available from just £50. The policy is also available where a step parent is contributing.
For a quote, simply select the ‘Insolvency Act’ risk type, followed by the ‘Insolvency Act – parental help to buy’ policy option.
*Source: Legal and General 2018 Bank of Mum and Dad report