The Bank of Mum and Dad: A Financial Disaster Waiting to Happen?
About this episode
The episode discusses the implications of the Bank of Mum and Dad as a significant financial lender in Australia and the risks involved in undocumented family loans for property investment.
The bank of mum and dad is now Australia's fifth largest lender, with $35 billion a year flowing from parents to kids trying to get into property. Most of it completely undocumented and with no plan for how it comes back. Nick's seen it go wrong firsthand, and this is what both sides need to hear before any money changes hands.
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