Home Owning 20 Something In Europe Relieved To Hear Bank Of Mum & Dad Won’t Pass Rate Hike On — The Betoota Advocate

Home Owning 20 Something In Europe Relieved To Hear Bank Of Mum & Dad Won't Pass Rate Hike On — The Betoota Advocate


A man enjoying a 5-week holiday in Southern Europe is very relieved today, it can be confirmed.

Speaking to The Advocate a short time ago, one of Betoota’s Grove’s favourite sons said he was over the moon to learn that the Bank of Mum and dad would not be passing today’s RBA rate hike on to him.

Albert Thompson said he breathed a huge sigh when he heard some good news from back home.

Despite the Reserve Bank of Australia lifting the cash rate by another 0.5 percentage points today, Thompson was informed by his lender, the Bank of Mum & Dad that he would be okay.

Enjoying a mid-morning cocktail before heading off on a sailing trip with his fiancee, the young homeowner said he can enjoy the next week or so a bit better now.

The proud owner of a three-bedroom house in the French Quarter said it means he will be significantly better off a week as a result.

While the corporate lending institution that stumped up the 35% of the value of the property has passed on every hike in full, Thompson told us that his parents have thankfully kept their interest rate at a flat zero.

“Sometimes they even let me make interest-only repayments, like when I’m saving for a holiday and on holiday,” he revealed.

“Which is pretty good of them really,” laughed the young man who always forgets his parent’s contribution when bragging to acquaintances about the merits of home ownership and saving money.

“Anyway, we’ve got a big day ahead of us, so we best be off.”

No more to come.

Author: Stephen Bailey