Episode #9: The Bank of Mum and/or Dad

In today’s episode, we explore the concept of "The Bank of Mum and Dad" — a term that doesn’t just mean financial help from parents, but also includes support from other family members or friends. This episode delves into the increasing trend of parents or close ones providing funds to help someone purchase a property, which often raises important questions in family law, especially regarding whether the money is considered a gift or a loan.

We discuss the pros and cons of helping loved ones enter the property market, the potential for future family tensions, and the importance of having documentation to protect all parties involved. This conversation is a must-listen for anyone considering providing financial support or receiving it, as we offer insights and tips on how to approach these financial arrangements wisely and securely.

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