Parents give £6bn to kids

THE Bank of Mum and Dad is expected to give £6billion towards house purchases this year.

Legal & General figures show one-in-four property deals now depend on money from parents, at an average of £18,000.

But a fifth of them told equity release firm Key they will set specific rules on how the cash is spent.

Key told parents “not to lend without considering the short, medium and long-term financial implications for themselves”.