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The Independent UK

Lifestyle

James Moore

Voices: Could banning the Bank of Mum and Dad unlock the housing market?

Housing Market Charlie Kirk Nationwide

The Bank of Mum & Dad LLC (BMD) is one of Britain’s biggest and fastest-growing lenders, and the Newcastle Building Society has decided that it is time it had some competition.

Its new low-deposit mortgage product, designed for first-time buyers, explicitly bans contributions from the BMD. Whoever came up with the idea deserves a bonus, as it’s generated more buzz than a nestful of hornets.

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