How to access the bank of Mum and Dad

A recent Kiwibank survey found that 65% of Gen Z and 43% of millennials who own homes received some form of support from the Bank of Mum and Dad to get onto the property ladder.

Common ways parents can help
To make sense of how this works in practice, our Head of Mortgages, Digby Butcher, has created a video series covering the three most common options, plus the key considerations and risks for everyone involved:

Gifting 

Family Loan

Guarantee

Next steps
If you’re considering the Bank of Mum and Dad, it’s important to have open conversations and a clear plan in place. If you’d like help understanding the pros and cons of each option and guidance through the process, give us a call on 0508 287 672 or fill out the form below.

Need more support? Check out our First Home Buyers Guide for step-by-step help on your journey to home ownership.

*The information contained in this blog is for general information purposes only. It is not intended to constitute financial advice and does not take your individual circumstances and financial situation into account. We encourage you to seek assistance from a trusted financial adviser.