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News » WAB Debate

Would you charge interest when lending your children money?

Friday June 8 2018

A RECENT survey has found that more children are using the 'bank of mum and dad' to put a deposit down for a house.

With the cost of living and house prices rising faster than most people can save, combined with slow wage growth, many are asking their parents for a loan towards a deposit. 

Though many parents help, some parents are charging interest in what they loan.

The survey, carried out by UOWN, found on average parents would charge 4.3% interest on money loaned.

Would you charge interest on money loaned to your children?

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