Definition of the Bank of Mum and Dad in English:

the Bank of Mum and Dad

phrase

British
informal
  • (especially in the context of property purchase) a person's parents regarded as a source of financial assistance or support.

    ‘they face a lifetime of renting unless the Bank of Mum and Dad is willing to help out’
    • ‘Furthermore, the bank of mum and dad carries on well into adulthood, it seems.’
    • ‘According to the survey, most students will not be able to count on help from the Bank of Mum and Dad.’
    • ‘However, increasingly poor affordability and likely cutbacks at the Bank of Mum and Dad may cause the rate of house price growth to move back into single digits in the latter part of the year.’
    • ‘Parents stumping up all or some of the money for their children to put down on a property is the most common way the Bank of Mum and Dad is coming through for first-time buyers.’
    • ‘Children or grandchildren like the Bank of Mum and Dad because they have to jump through fewer hoops to get their money and the repayment terms may be easier.’
    • ‘The business of the Bank of Mum and Dad is fraught with moral and practical questions.’
    • ‘Regarding the flat, it's a combination of the bank of Mum and Dad, some inheritance money, a large mortgage, and my savings.’
    • ‘The 'Bank of Mum and Dad' never closes.’
    • ‘They borrow money from the Bank of Mum and Dad, which most will never repay.’
    • ‘Few people can expect the 'Bank of Mum and Dad' to bail them out if borrowing costs rise.’