The pros and cons for borrowing from BOMAD

The pros and cons for borrowing from BOMAD Amelia Murray from the Telegraph goes into detail about the risks and benefits of using BOMAD. She looks into the aspects many wouldn’t consider when lending from family and friends such as an affordability test, the idea of going bust, interest rates, hidden costs, miss-selling loans and […]

BOMAD helps a third of second-steppers

BOMAD helps a third of second-steppers Research by Lloyd Bank has shown that nearly one-third of home overs that are looking to move up in the property market are seeking financial help from BOMAD. Banks estimated that on average they need £21,231 extra to take the step to their future property. Credit: Hannah Nemeth Source: www.moneywise.co.uk Read […]

Get through university: BOMAD gives students £2,285 each year

Get through university: BOMAD gives students £2,285 each year Research from the site, NotGoingToUni, has revealed that many UK students have turned to the Bank of Mum and Dad for on average £2,285 each year to help them get through university. With a large number of these undergraduate students (87%) confessing to going to their parents […]

The Bank of Mum and Dad….. Um, yes please!b

The Bank of Mum and Dad….. Um, yes please! BOMAD – It’s a crazy idea having a Bank of Mum and Dad isn’t it? But in today’s day and age, has it become essential for the those swimming in debt from university. The question I’m trying to figure out is whether it’s a bad idea […]

Genervacation: why the ‘bank of mum and dad’ now offers travel

Genervacation: why the ‘bank of mum and dad’ now offers travel The Bank of Mum and Dad in Australia is now extending to vacations, introducing Genervacation!  Experts within the tourism industry predicted a surge in the number of parents taking their children, who were well into their twenties, away with them on holiday. These baby […]

UK retirees cash out to bolster Bank of Mum and Dad

UK retirees cash out to bolster Bank of Mum and Dad An increasing reliance on the bank of Mum and Dad is one of the reasons that retirees are releasing funds from their home. It’s a national trend that is very much evident throughout the country. Soaring UK property prices increasing by 5.8% mean that […]

Credi – Powering “The Bank of Mum and Dad”

Credi – Powering “The Bank of Mum and Dad” The Bank of Mum and Dad is not just about a loan for getting on the property ladder for first-time buyers. It is the tip of a large financial iceberg. Over $1.7m of loans created within the first month of launch. Research carried out for Credi […]