How much money do you owe your parents right now?

We asked people how in debt they are to the ‘Bank of Mum and Dad’


We owe a lot to our parents – they brought us into this world, and they taught us many of life’s most important lessons, or something. But how much do we actually owe them? A study by Legal & General this week claims that the “Bank of Mum and Dad” – as only the most entitled borrowers call it – lends so much money in the UK that if all its parental lenders were combined into a formal business, it would register as a top 10 UK mortgage lender.

We went out on the streets of London to ask people if they really were that much in debt to their folks.

Sam, 23, Student

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“I honestly don’t owe them any money at the moment. I’ve definitely owed them a lot before though – I think about a grand when I went travelling.”

Simon, 27, Stylist

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“Nothing – I own my own business. During university I would owe them money, but since then I haven’t.”

Radek, 20, Styling Assistant

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“My dad bought me a car a few years ago, which I sold to come here. So yeah, I reckon I owe him about £2,000 for that.”

Chiara, 22, Sound Engineer

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“I’ve been working since I was 14, so I’ve never really taken money from my parents. Or at least, I’ve tended not to ask.”

Natalie, 22, Editorial Assistant
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“I took out my student loan myself, so I don’t really owe them anything. They’d refuse to pay for anything anyway!”

Amelia, 23, Paralegal

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“I don’t think I owe them anything. I worked all the way through high school, so luckily I was able to save for uni.”

Steph, 24, Actress

P5034199 “A lot! I went to boarding school so technically I owe them all that, but I guess it depends what you count as owing.

“I’d pay them back a tenner here or there, but they paid for my whole education, which is what I want to do for my kids.”

Ed, 22, Actor
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“It’s a tough question because really I owe them everything, even if they haven’t been like ‘oh, here’s 10 grand’ at any point.

“Put it this way, if I won the lottery the first thing I’d do is give them half.”