The Better Mortgage Company Navigates BoMaD Brits Towards Remortgage Saving Considerations

You could save money or find a product which better suits your needs by remortgaging your home. With UK Nationwide fee free services, if you are "Bank of Mom and Dad" or a "BoMaD" then it's wise to speak to an independent mortgage broker.
By: The Better Mortgage Company UK
WESTON SUPER MARE, U.K. - April 12, 2023 - PRLog -- The acronym "BoMaD" means the "Bank of Mum and Dad" and is a term used to refer to parents who provide financial assistance to their adult children. Often we meet BOMADS who wish to provide a downpayment for purchasing a home, paying for further education or starting a business.

BOMAD Britain - The Bank of Mum and Dad are Bossing It

In Britain, the term BOMADS is often used to describe the trend of parents providing financial support to their adult children who are struggling to achieve financial independence in the face of rising costs of living, stagnant wages, and increased student loan debt.

The Bank of Mum and Dad has become a significant source of funding for young people, with many parents providing support at the expense of their own retirement savings or financial well-being. The trend has led to concerns about intergenerational inequality and financial strain on parents who are increasingly being called upon to help their children achieve financial stability.

UK remortgage timing is everything, getting a new deal in place can avoid you paying an expensive standard variable rate.
  • I have an early repayment charge, should I switch?
  • When can I remortgage in the UK?
  • Questions to ask when remortgaging - Ask on 0117 371 0062
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Simon Mayo
0117 371 0062
Source:The Better Mortgage Company UK
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Tags:Better Remortgage Company UK
Location:Weston Super Mare - Somerset - England
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