When Abi looked online, he found schemes to help him as a first time buyer but they took a huge chunk of the property’s equity. Very much the opposite of home ‘ownership’. Meanwhile, the more he kept saving, the more property prices were increasing. It was a lose lose situation.
But what he realised was that he and many others needed a solution to the challenge of saving for a home deposit. Thus BOMADU – Bank of Mum and Dad United – was born.