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Bank of Family

If you’re thinking about gifting money to family, our Guide to Gifting and useful resources will help you understand the best way to help when they need it most.
These days, financial help for younger people comes from grandparents and other family members as much as Mum and Dad. So the Bank of Mum and Dad is really the Bank of Family. We’ve gathered all you’ll need to help your own loved ones, however you’re related to them and whatever you’d like to do for them. Our Guide to Gifting is the ideal starting place.
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The Bank of Mum and Dad (BoMaD)

In our article we look at how the Bank of Mum and Dad have supported their children financially. From helping them get on the property ladder to gifting money when they need it most.

Family together

Helping your loved ones onto the property ladder

Helping a loved one onto the housing ladder is something most of us wish we could do. But for many young people today, buying a property can seem just out of reach, forcing them into renting or living at home well into their 30s.

Helping your family

Gifting

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Bank of Grandma and Grandad

As a grandparent, how would you feel if you knew your grandchildren were struggling financially? Read Lauren’s story of how her grandparents became the Bank of Grandma and Grandad. 

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How much can I gift to my grandchildren?

There are rules around gifting family money, such as children and grandchildren. Read our guide to Inheritance Tax gifts and allowances.

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Conditional gifts in a will

Putting conditional gifts in a will allows you to specify how your estate should be used. Find out more about how to put conditional bequests in a will.

More resources

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How life insurance for over 50s can help your family

If you’re looking to leave your family a cash sum after you die, why not consider Legal & General’s Over 50s Life Insurance? Find out how it works.

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Is equity release right for you?

Although the market now offers greater flexibility, more choice and increasingly competitive rates, myths around equity release remain. Here we set the record straight and explain how equity release can help boost your finances.

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Equity release calculator

Releasing money from your home through a lifetime mortgage could help your family when they need it most. Find out how much you could release with our easy to use equity release calculator.

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