Having loaned £2bn to help customers secure a first home last year, the Bank of Mum & Dad is on the brink of collapse. The beleaguered bank yesterday announced high house prices are making it harder and harder to keep up.
A spokeswoman for the bank said, ‘We apologise for any embarrassment caused to customers forced to continue living with us into their thirties. But rest assured, we love you very much.’
The spokeswoman went on to state “Alex – if you are reading this, dinner is in the oven. Text us if you’re going to be home late tonight, love”.
Worried customers can find out more from the Bank of Mum & Dad here.
Commentators are increasingly concerned about the situation, with parents across the country increasingly struggling to keep up. A spokesperson from Shelter stated: “The Bank of Mum & Dad is under real pressure because of out of control house prices. 64% of parents have raided their own savings to help their child get on the ladder or with rent costs. And the Bank of Mum & Dad is having to give £23,000 on average to its customers for a deposit”.
The spokesperson went on to comment “A pay-out from the Bank of Mum & Dad can’t be the next generation’s only chance of affording a home of their own. Politicians need to give back hope to the thousands of people desperate for a stable home by building the affordable homes they are crying out for”.
With housing now a top-five voter issue, politicians are under increasing pressure to provide answers as to how they will tackle the housing shortage. And it an area that’s up for grabs. 1 in 4 voters don’t know which party is strongest on housing – suggesting huge opportunities for whichever party makes a pitch for this area.