Home loan news and advice

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Bank of Mum and Dad charges fees in embarrassment, awkwardness and unwanted advice, St.George research shows

Bank of Mum and Dad charges fees in embarrassment, awkwardness and unwanted advice, St.George research shows

In 2017, Mozo revealed that the Bank of Mum and Dad is the fifth biggest lender in Australia, shelling out a massive $65.3 billion to help young adults enter the property market, without charging fees, or for the most part, interest. But it turns out homebuyers who head back to the family home might pay for it in other ways - namely, by getting stuck in awkward situations.

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