Jo Edwards discusses issues around “The Bank of Mum and Dad” on BBC Radio 4's Money Box
The Bank of Mum and Dad is set to lend or gift £6.5 billion to children buying property this year, according to recent reports - a 30% increase on the £5 billion loaned in 2016.
After having been gifted or loaned money by parents, what happens if the son or daughter cohabits or marries and the relationship ends? Unless legal advice has been obtained and steps taken to protect the money in question, it is at risk of being subject to a claim on divorce or separation by the other spouse or cohabitant. Jo Edwards discussed these issues with Paul Lewis on BBC Radio 4's Money Box.
— Forsters LLP (@ForstersLLP) May 18, 2017