As young renters feel the pain, parents are having to bridge the financial gaps.
I am already being contacted by readers in despair about their own situation and, increasingly, that of their adult children. As the debts of sons and daughters mount, the Bank of Mum and Dad has entered the bailout business. One area where pain is being felt acutely is the private rental sector. There might be a three-month stay on evicting tenants, but the rent is still due. Renters who fall behind must agree a repayment schedule with their landlords, and in most cases will have to repay much more quickly than homeowners who can roll it up and add it to their mortgage.
Tim K. Dean, Credi Founder | Commentator & Expert on Family Lending, Bank of Mum & Dad and Neo-Credit Scores is available for media interviews and appearances. More…
Tim K. DeanCredi Founder Commentator & Expert Family Lending | Bank of Mum & Dad | Neo-Credit Scores Tim K. Dean is a leading expert and commentator in the field of friends & family lending, the Bank of Mum and Dad and neo-credit scores.
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