The Bank of Mum and Dad plays a sizeable role when it comes to helping young home buyers on the property ladder. Consume This research has found the Bank of Mum and Dad (BOMD) has doled out a whopping $22.6 billion in loans. That make it the fifth largest lender after ANZ, ASB, Westpac and BNZ when it comes to owner-occupier loans.
Last time up we heard from the borrowers. In this episode... It's the turn of the bank. Noel Bates & Bob Metcalfe share their efforts to help their children into a home. Brandon Vaaulu reveals his technique for getting ahead with out the bank of mum and dad. Plus Economist Shamubeel Eaqub takes a look at what we could do to make things easier for first-home buyers - and their parents!
You can find out full Bank Of Mum & Dad research report here.
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