Legal & General: The Bank of Mum and Dad
In 2016, Rostrum created and developed the ground-breaking Bank of Mum and Dad (BoMaD) research campaign for FTSE100 financial services group Legal & General.
The campaign sought to answer the following questions:
- If the Bank of Mum and Dad was a real bank, who would it lend to?
- How big is the Bank of Mum and Dad compared to other UK lenders?
- Who funds BoMaD, and will it ever run out of money?
Rostrum surveyed 1000 ‘lenders’ (parents and grandparents) and 1000 ‘borrowers’ (children) to find out how they have supported or been supported by loved ones to get onto the housing ladder. We then partnered with economic consultancy Cebr to model these findings and produce an in-depth analysis into the role the Bank of Mum and Dad plays in the UK housing market.
The results of the campaign have been so strong that BoMaD has become an annual project for Legal & General, with Rostrum finding new angles and themes for each new iteration.
2020 marked the fifth edition of the campaign and explored how the Covid-19 outbreak has impacted the Bank of Mum and Dad, and asked to what extent parents are helping their loved ones in the pandemic.