Stephanie Parker, Director, notes that the ‘Bank of Mum and Dad’ is increasingly playing a part in helping young people become homeowners. Once, this was simply a contribution to the deposit but now, with increasing interest rates and squeezed incomes, it might encompass other forms of help. This is from Stephanie’s recent comments shared with ePrivateclient.

The recent increase in contributions doesn’t only benefit prospective homeowners however, and can open up the opportunity for those able to help out to undertake some early inheritance tax planning by passing on wealth at the time it is most needed.

Read Stephanie’s comments in full in ePrivateclient here.

Wherever you are in your personal journey, our Private Client team can help you create a plan that works best for you based on your circumstances and goals. Get in touch with Stephanie or our team today.