{"id":2557,"date":"2016-05-06T11:04:20","date_gmt":"2016-05-06T11:04:20","guid":{"rendered":"https:\/\/staffblogs.le.ac.uk\/socscilibrarians\/?p=2557"},"modified":"2024-11-26T17:49:56","modified_gmt":"2024-11-26T17:49:56","slug":"bank-of-mum-and-dad-fund-25-of-mortgages","status":"publish","type":"post","link":"https:\/\/staffblogs.le.ac.uk\/socscilibrarians\/2016\/05\/06\/bank-of-mum-and-dad-fund-25-of-mortgages\/","title":{"rendered":"Bank of Mum and Dad fund 25% of Mortgages"},"content":{"rendered":"<p>According to the latest <a href=\"http:\/\/www.legalandgeneralgroup.com\/assets\/portal\/pdf\/BOMAD_FINAL_PDF.pdf\">research report from Legal and General<\/a> and Centre for Economics and Business research (CEBR) in 2016 the high cost of housing means that 25% of all mortgage transactions involve parents with an average of over \u00a317,00 being given.\u00a0 This follows on from previous <a href=\"http:\/\/www.cebr.com\/reports\/bank-of-mum-and-dad-for-ftb\/\">CEBR research<\/a> which showed an increasing dependence on parental financial contributions in the UK since the start of the financial crash.\u00a0 Indeed a\u00a0 2013 <a href=\"http:\/\/www.lloydsbankinggroup.com\/globalassets\/documents\/media\/press-releases\/halifax\/2013\/1706_halifax_generation_report.pdf\">report by the Halifax referred to a generation of renters<\/a> and recently\u00a0 <a href=\"http:\/\/pwc.blogs.com\/press_room\/2015\/11\/outlook-worsens-for-generation-rent-only-one-in-four-to-be-homeowners-by-2025.html\">PWC predicted that by 2025 only one in 4<\/a> will be homeowners\u00a0 as housing costs have risen so dramatically.<\/p>\n<p><a href=\"https:\/\/england.shelter.org.uk\/professional_resources\/policy_and_research\/policy_library\/policy_library_folder\/report_affordability_for_first_time_buyers\">Shelter<\/a> has some interesting data on housing affordability for first time buyers.\u00a0 It calculated that 1969-2015, house prices rose 59 times while incomes rose 34 times, making costs much higher.<\/p>\n<p><a href=\"http:\/\/npi.org.uk\/publications\/housing-and-homelessness\/nation-renters-how-england-moved-secure-family-homes-towards\/\">New Policy Institute<\/a> also publishes reports on generation rent.<\/p>\n<p><a href=\"http:\/\/www.natcen.ac.uk\/our-research\/research\/first-time-buyers\/\">Natcen has also recently published an interesting report<\/a> on the plans and aspirations of potential homeowners 18-40.<\/p>\n<p>Other recent data can be obtained <a href=\"http:\/\/www.about.hsbc.co.uk\/search?query=mum+and+dad\">from HSBC website<\/a> and the <a href=\"http:\/\/www.halifax.co.uk\/house-price-index\/\">Halifax house Price Index<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the latest research report from Legal and General and Centre for Economics and Business research (CEBR) in 2016 the high cost of housing means that 25% of all mortgage transactions involve parents with an average of over \u00a317,00 being given.\u00a0 This follows on from previous CEBR research which showed an increasing dependence on [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,7,15],"tags":[311,312,93],"class_list":["post-2557","post","type-post","status-publish","format-standard","hentry","category-economics","category-finance","category-sociology","tag-house-prices","tag-mortgages","tag-united-kingdom"],"_links":{"self":[{"href":"https:\/\/staffblogs.le.ac.uk\/socscilibrarians\/wp-json\/wp\/v2\/posts\/2557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staffblogs.le.ac.uk\/socscilibrarians\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staffblogs.le.ac.uk\/socscilibrarians\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staffblogs.le.ac.uk\/socscilibrarians\/wp-json\/wp\/v2\/users\/89"}],"replies":[{"embeddable":true,"href":"https:\/\/staffblogs.le.ac.uk\/socscilibrarians\/wp-json\/wp\/v2\/comments?post=2557"}],"version-history":[{"count":1,"href":"https:\/\/staffblogs.le.ac.uk\/socscilibrarians\/wp-json\/wp\/v2\/posts\/2557\/revisions"}],"predecessor-version":[{"id":2558,"href":"https:\/\/staffblogs.le.ac.uk\/socscilibrarians\/wp-json\/wp\/v2\/posts\/2557\/revisions\/2558"}],"wp:attachment":[{"href":"https:\/\/staffblogs.le.ac.uk\/socscilibrarians\/wp-json\/wp\/v2\/media?parent=2557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staffblogs.le.ac.uk\/socscilibrarians\/wp-json\/wp\/v2\/categories?post=2557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staffblogs.le.ac.uk\/socscilibrarians\/wp-json\/wp\/v2\/tags?post=2557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}