5 worries we’ve all had about the so called Bank Of Mum And Dad

The so called bank of mum and dad helped to finance a quarter of all recent UK mortgages with an average loan amount of £17,500 to get their offspring on the property ladder according to data from Legal & General.

But figures don’t tell the whole story do they? Tessa Hilton, editor at large of woman&home lists the things that keep us parents awake at night …

1.   GUILT
About not being able to lend them the money. We’d love to do it (and apparently everyone else has manage to lay their hands on spare cash) but the job won’t last forever and the pension looks pitiful.

2.    SUMS
OK so we might have a bit of money to spare, but not a lot. And there are three children. Divided three ways it’s not going to come anywhere near a deposit. They’ll probably spend it paying off their credit card loans. Should they just wait till they inherit?

The eldest one works hard but is self-employed and money’s tight, while the youngest one is doing well and has cash to spare. Will giving one of them more cause a rift? Money is about emotion too.


In the phrase made famous by Donald Rumsfeld, we don’t know what lies ahead. A healthy life that needs financing until we’re, gulp, ninety? An unhealthy life that requires care for god knows how long? Or a short but happy life in which case they’ll soon inherit it all anyway?

4.   RIFTS
Supposing we do cash in part of the pension to help them set up home with their true love … and the relationship goes wrong? Will our son or daughter’s ex be entitled to half our hard earned savings?

5.   YOUR OTHER HALFOne of us thinks we should downsize to free money to give them. The other one thinks the times not right to make that move and the kids will have to make their own way in the world for a bit longer.

Over to you … What are the answers? What solutions have you found?

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