| 13.6°C Dublin

Close

Premium

€300,000 among gifts handed out by 'bank of mum and dad'

Close

(Stock photo)

(Stock photo)

(Stock photo)

Six in 10 mortgage applicants have received a gift from 'the bank of mum and dad' according to a study by one of the country's leading mortgage brokers.

Gerry Hiney of Park Financial Planning said: "We carried out the study because we are seeing it every day across a wide section of society."

Speaking to the Sunday Independent, he explained how "some are really lucky" but said: "It is creating an uneven playing field for those who cannot ask their parents for help.