Bank of Mum and Dad becoming one of NZ s biggest home loan lenders Mon, 12 Jul 2021, 11:24AM
Mortgage brokers estimate between 60-70 per cent of first home buyers in our major cities are getting some form of financial help from mum and dad. Photo / 123rf
Bank of Mum and Dad becoming one of NZ s biggest home loan lenders Mon, 12 Jul 2021, 11:24AM
Booming prices are forcing first home buyers to seek more financial help from their parents, in a trend threatening to widen the gap between the property haves and have nots.
Figures from Australia show 60 per cent of first home buyers now receive parental help to get a foot on the property ladder - up from just 3.3 per cent in 2010.
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The bank of mum and dad's thought to be continuously popular for many first-home buyers - 12-Jul-2021
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