Notices

  • Our Windfall Bond is available for new account openings, offering interest at the Bank of England Bank Rate and entry into a monthly free prize draw with more prizes available now determined by the prize fund value. Find out more here

    Newly opened accounts need to be fully funded and nominated bank details registered before the end of September in order to qualify for entry into the November Prize Draw.

  • Mortgage products - On Friday 20 September we made changes to our Buy to Let mortgage product range. Our BTL Limited Company 5 Year Fixed Rate product (XF0898) has been withdrawn without replacement, and we've launched a new BTL UK Landlord 5 Year Fixed Rate product. Further information can be found here.

    On 19 September 2024, we reduced our Managed Mortgage Rates (MMR) by 0.25%. All on-sale discounted variable product rates and other details, including representative examples displayed on our website, have been updated to reflect these lower rates. We have written to existing customers who have been impacted by this change, with details relevant to them. Find out full details here.

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Bank of Mum and Dad research and guides

Helping loved ones onto the property ladder? Know the rules for both your own financial protection and peace of mind.

Bank of Mum and Dad

It's now quite common for young people, and particularly first time buyers, to receive a contribution from parents or other family members to help with a house purchase. With the need to provide ever increasing deposits, the Bank of Mum and Dad is now busier than ever. 

The Bank of Mum and Dad is one of the UK's biggest mortgage lenders but how does it really work? 

It’s essential that parents and their children know what they are doing and what everyone's responsibilities are regarding when, how and indeed if repayments are to be made.

 

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How to run the Bank of Mum and Dad

Building on this real world experience, this led us to produce the definitive guide on 'How to run the Bank of Mum and Dad' which shows how it works and the important things families need to consider.

Our guide covers topics such as:

  • Fairness
  • Misunderstandings and misgivings
  • Taking advice
  • Having more than one child
  • Relationship breakdowns
  • Personal circumstances and what the future holds.

Read our brochure. 

 

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Our Bank of Mum and Dad research

We carried out some research with our members, in conjunction with the London School of Economics, to look at how families approach parental help when buying a property, and their experiences during this process.

The report looks at how families make these often difficult decisions, how they provide financial assistance and the issues that arise before and during the arrangement. 

Find out more about our research.

Frequently asked questions

Find answers to some of the most common asked when helping your loved ones onto the property ladder. Read our FAQs.

  

Bank of Mum and Dad support guides

We have produced a range of simple guides that can help families through every step on lending to their loved ones:

  • Legal and Financial consideration guide
    There are numerous financial considerations and legal implications that families should be aware of when providing financial assistance. This guide highlights important things you need to consider before opening the Bank of Mum and Dad. Read our guide.  
  • Conversation guide
    Talking about money can be difficult. Here's we highlight important questions and topics to help tackle that tricky conversation of financial assistance. Read our guide.