Financial Conduct Authority  

Regulator urged to step in on intergenerational mortgages

David Hollingworth, associate director at L&C, said: “The role of family in the aspirations of many first time buyers is so often crucial and the Bank of Mum and Dad regularly helps their offspring build the deposits they require in a market that can often be a stretch for first time buyers.  

“Mainstream mortgages have recognised the help that parents offer and sought to use guarantees and family support to offer alternative solutions.The later life market is also likely to play an important role and is already expanding in terms of the range of product options available, which should help bring further innovation and flexibility.”

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