Notices

Savings customers - the interest rates on many of our variable rate savings products will be decreasing from 6 January 2025. Find out more

We will be emailing or writing to you shortly to let you know of how these decreases affect you. In the meantime, you can see all of these changes here.
Mortgage customers - our Managed Mortgage Rate (MMR) will decrease by 0.25% from 20 January 2025. Find out more:

From 20 January 2025, we'll be decreasing our Managed Mortgage Rates (MMR) by 0.25%. All on-sale discounted variable product rates and other details, including representative examples displayed on our website, have been updated to reflect these lower rates.
We will be writing to existing customers who have been impacted by this change, shortly, with details relevant to them.
View our Christmas opening hours here. For information on bank transfer processing times over the Christmas period please click here.
Rate changes following Bank of England decision to decrease its Bank Rate by 0.25% to 4.75% on 7 November 2024. Find out more

Savings: Interest rates for Windfall Bond and Tracker Savings Bond will decrease by 0.25% from 1 December 2024. We will be writing to all customers individually to confirm the new rates.
Mortgages: Tracker mortgages will change on 25 December 2024 and we will write to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage.
(Notice updated 08/11)

Bank of Mum and Dad research and guides

Helping loved ones onto the property ladder? Know the rules for both your own financial protection and peace of mind.

Bank of Mum and Dad

It's now quite common for young people, and particularly first time buyers, to receive a contribution from parents or other family members to help with a house purchase. With the need to provide ever increasing deposits, the Bank of Mum and Dad is now busier than ever.

The Bank of Mum and Dad is one of the UK's biggest mortgage lenders but how does it really work? It’s essential that parents and their children know what they are doing and what everyone's responsibilities are regarding when, how and indeed if repayments are to be made.

We have produced a range of simple guides covering key topics and important things families need to consider.

Family assisted mortgages

We offer a number of family assisted mortgage products for those needing extra or family help to get onto the property ladder.

Our mortgages

Our Bank of Mum and Dad research

We carried out some research with our members, in conjunction with the London School of Economics, to look at how families approach parental help when buying a property, and their experiences during this process.

The report looks at how families make these often difficult decisions, how they provide financial assistance and the issues that arise before and during the arrangement.

Find out more about our research.

BOMAD 1

How to run the Bank of Mum and Dad

Building on this real world experience, this led us to produce the definitive guide on 'How to run the Bank of Mum and Dad' which shows how it works and the important things families need to consider.

Our guide covers topics such as:

Fairness
Misunderstandings and misgivings
Taking advice
Having more than one child
Relationship breakdowns
Personal circumstances and what the future holds.

Read our brochure.

BOMAD 2

Frequently asked questions

Find answers to some of the most common asked when helping your loved ones onto the property ladder. Read our FAQs.

Bank of Mum and Dad support guides

We have produced a range of simple guides that can help families through every step on lending to their loved ones:

Legal and Financial consideration guide
There are numerous financial considerations and legal implications that families should be aware of when providing financial assistance. This guide highlights important things you need to consider before opening the Bank of Mum and Dad. Read our guide.

Conversation guide
Talking about money can be difficult. Here's we highlight important questions and topics to help tackle that tricky conversation of financial assistance. Read our guide.