There’s the old saying that you can’t put a price on love. But the Bank of Mum and Dad provided $2.7 billion to their adult children to buy property over the last year. The Productivity Commission estimates mum and dad as a collective would be between the 5th and 9th biggest home loan lender in… Read more »
The cost of buying a home in our capital cities is now 14 times our annual income, up from five times the annual income in 1990. Who’s doing it tougher, young homeowners today or their Baby Boomer parents who were paying 17 per cent mortgage interest? It’s the intergenerational war of words that has been… Read more »
Going guarantor on your child’s loan is a family minefield for so many reasons. I generally don’t recommend it, but if you have to do it, be cautious. Australian parents are incredibly generous when it comes to supporting their adult children. I agree, we should be supporting them EXCEPT if it puts our finances, our… Read more »
A growing number of kids are relying on the Bank of Mum and Dad to get a foot in the door. Here’s how to protect that foot from getting hammered. The Generational war between parents and their adult children over money has never been more intense or sensitive. The clash is over parents wanting to… Read more »
