Via the AFR:
Lending by the Bank of Mum and Dad has increased by 25 per cent to about $20 billion in the past 12 months as banks’ raise rates, increase minimum deposits and toughen repayment terms and conditions.
…Bank of Mum and Dad, a term used to describe parent lending to their children for property purchases, is now the tenth largest lender, bigger than ME Bank, AMP Bank and the local operations of global banking giants like Citigroup and HSBC Australia.
