Latest news with #BankofMumandDad
Telegraph
03-07-2025
- Business
- Telegraph
What you need to know before giving your child a house deposit
The 'Bank of Mum and Dad' is a big business. Last year, gifts and loans from parents came to over £9.6bn, according to property firm Savills – with the money commonly being spent on house deposits. The research, from May this year, found 173,500 first-time buyers were given assistance in 2024 – around half of the total number to have bought their first home – with gifts averaging £55,572 each. Parents stumping up large sums of cash is on the rise. The Bank of Mum and Dad (Bomad) has provided £38.5bn of assistance over the past four years, up 71pc compared to the previous four years. Despite it being so commonplace, giving money to your children isn't always straightforward. How much should you give? When should you give it? Could you end up accidentally landing your offspring with a tax bill? Here, Telegraph Money answers these questions in a full guide to the Bank of Mum and Dad. How much should you give your children? When should you give the money away? What do lenders need to know about a 'Bomad' deposit? Do children have to declare the gift to HMRC? What about inheritance tax? How much should you give your children? The golden rule here is that any contribution should be affordable – this means it will vary from person to person. Crucially, you need to ensure any gift won't put your own retirement or financial stability at risk.
7NEWS
24-06-2025
- Business
- 7NEWS
Queensland Budget: Winners and Losers explained
Premier David Crisafulli says Queensland is 'on the cusp of a golden era' and his government's first budget in a decade showed that it's prepared to spend big to get there. Billions are being poured into housing, hospitals, and household relief. But the plan also brings a record deficit, rising debt, and cutbacks in support for some. So, who came out ahead and who's left wondering? Winners 1. Home buyers get a boost The centrepiece of the budget is the nation-leading 'Boost to Buy' scheme, aimed at reducing the deposit gap and opening the door to home ownership for more Queenslanders. 'The Bank of Mum and Dad — well, a lot of people don't have access to it,' Crisafulli said. 'In a lot of cases, it means that the great Australian dream's become a nightmare, and we don't want that. 'We want people who aspire to own a home, and what this does is it helps reduce that deposit gap. 'It is what we're calling Boost-to-Buy. It is nation leading.' The government will co-invest: Up to 30 per cent in newly-built homes Up to 25 per cent in existing homes (capped at $1 million) Combined with a $30,000 First Home Owner Grant and stamp duty exemptions for new builds, the LNP is making good on its promise to tackle declining ownership. 'Home ownership rates in Queensland are at 63.5 percent, that's the lowest in the country and my vision is to go from last to first within a decade,' Crisafulli said. 'We're doing everything we can to get people into a home.' 'It shows how confident I am about the Queensland property market.' 2. Middle-income families From the grocery run to the school gate, families are being thrown a cost-of-living lifeline. The government has pumped out $11.2 billion in concessions including: $1300 electricity rebate for most households 50¢ public transport fares statewide $100 'Back-to-School' vouchers for every primary school student $200 sports vouchers for eligible kids 'That will support families with the cost of excursions, schoolbooks, uniforms,' said Treasurer David Janetzki. 3. Hospital patients and frontline services The budget also tackles long-standing pressure points in Queensland's health: $29.4 billion health budget (up 10.2 per cent) $18.5 billion Hospital Rescue Plan Funds to slash elective surgery waitlists by 30,000 patients More paramedics, police, and teachers on the way 'For too long, Queenslanders have endured an ailing health system,' Janetzki said. 'We are front-loading the investments into jobs and services now in this budget.' 4. Regional Queensland Nearly 70 per cent of the government's $18.6 billion infrastructure spend for the coming year will go outside of Greater Brisbane covering roads, rail, and renewables. The four-year capital works plan is worth $107.3 billion and is expected to support 72,000 jobs. Losers 1. Low-income households While most Queenslanders receive a generous $1300 electricity rebate this year thanks to federal funding, around 600,000 vulnerable households, including pensioners and concession card holders, will get less. They'll get just $386 in state electricity rebates, up only marginally from $372 last year, while most households will receive a $1300 rebate thanks to combined federal and state contributions. The Queensland Electricity Rebate itself hasn't increased, remaining frozen at $372.20 despite rising energy bills. It's led to criticism the state is leaning heavily on Commonwealth funds to deliver relief, while scaling back its own contributions. Queensland Council of Social Service (QCSS) said this isn't enough and worry that many vulnerable Queenslanders might struggle to pay their power bills. State funding for energy rebates has dropped from nearly $1 billion last year to $353 million this year, as the government winds back temporary cost-of-living relief and leans heavily on federal support. 2. Drivers face higher costs as discounts end Several cost-of-living relief measures introduced last year have now either ended or been scaled back. Additionally, government fees and charges, including licence renewals and registration costs, will rise by 3.4 per cent. Key rollbacks include: The E-Mobility Rebate Scheme for electric vehicle buyers was discontinued in October 2024, with no further funding The 20 per cent discount on vehicle registration ends mid-September 2025 and won't be renewed Extra car rego discounts have collapsed from $399 million to just $36 million As a result, government revenue from vehicle registration is forecast to jump more than 21 per cent next financial year. While public transport fares remain locked in at 50 cents, rising fees, charges, and the end of one-off discounts mean many households will pay more out-of-pocket in areas like motoring and licensing. The big picture Queensland's total debt is forecast to hit a record $205.7 billion by 2028-2029, with an $8.6 billion deficit predicted this financial year. But with cost-of-living relief scaled back, and spending focused on long-term infrastructure and housing, many families will feel the squeeze. Janetzki said: 'We're stepping in to save projects to deliver jobs and services that Queenslanders need.' This marks a clear shift away from blanket relief, with the LNP now focusing on more targeted and means-tested support. But the government remains optimistic about the state's future. 'We're on the cusp of a golden era in Queensland, we really are,' Crisafulli said. 'My message to people across the country — whether you're looking for a great place to live or a place to invest — we're open for business.'
Scottish Sun
18-06-2025
- Entertainment
- Scottish Sun
Key to toxic rift between Beckham and Peltz camps finally REVEALED – and why David & Victoria fear Brooklyn is ‘trapped'
David's pals reveal why Father's Day on Sunday may have 'offered up some hope' in the midst of the 'heartbreaking' family feud HOUSE OF PAIN Key to toxic rift between Beckham and Peltz camps finally REVEALED – and why David & Victoria fear Brooklyn is 'trapped' Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) THE Bank of Mum and Dad is a bone of contention for many a Boomer and Generation X-er – just ask David and Victoria Beckham. After months of heartbreaking animosity between Brooklyn and his parents, money — I'm told — has long caused a fractious divide between his own family and his bride's. 10 Brooklyn wraps his arms around wife Nicola in tender snap, as it's now revealed money has long caused a divide between both of their families Credit: Instagram 10 Brooklyn, right, will not get 'needless handouts' from parents David and Victoria Credit: Getty 10 Meanwhile, Nelson and Claudia like to 'indulge' daughter Nicola Credit: Instagram 10 News of Posh and Becks' eldest son 'buying' a £11million Hollywood mansion with wife Nicola Peltz has brought tensions simmering, once again, to the surface. Because I can reveal that Brooklyn does not entirely own the swanky five-bed, six-bathroom pad overlooking the magnificent Pacific Ocean. Largely Nicola — the daughter of a billionaire — does. According to concerned friends of David and Victoria, this leaves Brooklyn 'trapped', as does a forensic pre-nup which, again, was drawn up to secure the Peltz family's enormous wealth — a fortune that relatively dwarves the Beckhams'. But, as ever in this ongoing row, there are counter-arguments from both sides. Incredibly, the Peltzes accuse the Beckhams of being 'tight' and not amply providing for their beloved son. A source tells me: 'Money, so the saying goes, is the root of all evil. 'Certainly, in the case of the Beckhams vs Peltzes, it's proven... tricksy. David and Victoria are two working-class kids done good. 'They have grafted hard for their money and understand that with privilege comes responsibility. 'On principle, they will not needlessly spoil their kids and have taught them the value of both industry and money. They're like Gordon and Tana Ramsay in that regard. 'Honourable intentions' 'So, when it came to buying this house, of course they weren't just going to hand their son millions of pounds — what sort of message does that send? Brooklyn Beckham's family rift deepens as he turns back on UK by splashing out £11m on LA mansion with wife Nicola Peltz 'Nelson Peltz, on the other hand, is a billionaire investor and he and his wife Claudia regard Nicola, their little girl, as the apple of their eye. 'Understandably, they want to indulge her and ensure she never struggles — they expected the Beckhams, worth half a billion themselves, might match them penny for penny. Or, at least, chip in with financials as and when. 'That hasn't always happened, so they are annoyed and telling people it's a bit tight, which would utterly enrage David and Vic if they knew. 'They claim the Beckhams effectively cut off their kids financially when they turn 18.' Such an accusation would doubtless enrage Team DVB. Indeed, it does. It is, I am told, 'nonsense'. 10 Brooklyn puffs a cigar with father-in-law Nelson Credit: Nicola Peltz/Instagram 10 Nicola, centre, posing with mother-in-law Victoria and her mum Credit: Instagram/nicolaannepeltzbeckham A friend hits back: 'To be crystal clear, David and Victoria will always support Brooklyn if and when he needs it. "When he was setting up on his own, they would regularly help him out — as parents do — but they won't spoil him. They still help all their grown-up kids.' Brooklyn and Nicola's new home was largely paid for using her trust fund money — but, as the 'settlor', or creator, of the fund. Nelson had to sign off the release of any money. Pals insist both Brooklyn and Nicola also put in their work savings, and have 'been saving for years'. It is not known how much they contributed themselves To be crystal clear, David and Victoria will always support Brooklyn if and when he needs it Friend Nicola's camp, meanwhile, insists this house has 'nothing to do with family dynamics'. And they say that for Brooklyn — who spent much of his childhood in California while his dad David played for LA Galaxy — 'LA has always felt like home'. However, another source says the new pad was actually the couple's second house purchase. Nelson was adamant first time around that the young couple must 'both only buy a house they can afford'. They ended up selling the initial property. So this, then, is their first proper home together and will doubtless be a place they hope to one day raise a family. Although, not for now, according to one of Nicola's pals, who says she recently started work on a new film and is currently on location shooting. That movie, I'm told, co-stars little- known English socialite Jazzy de Lisser, and has a £1.2million budget. It is described as 'art house' and 'lets Nicola show off her acting mettle.' Sadly, the positive PR surrounding Nicola's last film, 2024's Lola, seems a world away. The glitzy red carpet premiere in Los Angeles was attended by Victoria, as well as Brooklyn's brothers, Romeo and Cruz. (David was away working at the time and Harper was at school). Today, ex-Spice Girl VB would sooner get on stage to belt out Wannabe a cappella than support one of Nicola's projects. The new purchase for the Peltz-Beckhams (the throughly modern couple sweetly wanted to take each other's surnames) comes three years after their lavish £3.5million wedding. The ceremony was held within the grounds of the Peltzes' stunning Floridian family estate. They are understood to have largely paid for the event — as is custom. The Beckhams, however, offered the services of pal Marc Anthony as a superstar wedding singer, and bought the couple a vintage Jaguar as a gift. In the weeks leading up to the divisive nuptials — more on these later — Brooklyn, 26, reportedly signed the 'mother of all pre-nups'. Not surprisingly, canny Nelson — with whom Brooklyn is extremely close — ensured that, in the unlikely case of divorce, his family assets would be protected. 'Pre-nups are standard practice Stateside,' says someone familiar with the Peltz-Beckham contract. 'Especially if you're a billionaire. 'To be honest, the Beckhams were very relaxed about it all. To be frank, it was entirely unexpected — and very welcome — for Brooklyn to have met someone who comes from more wealth than him. It was entirely unexpected — and very welcome — for Brooklyn to have met someone who comes from more wealth than him 'They felt Nicola's intentions were entirely honourable, and the paperwork effectively made sure that what both parties put into the marriage, they would take back out. 'It wasn't a problematic moment.' While not 'problematic', it does mean Brooklyn must keep earning. A kept man, he is not. 10 Nicola and Brooklyn on the Glamour mag cover 10 The Peltzs accuse the Beckhams of being 'tight' and not amply providing for their son 10 Tensions came to a head when Brooklyn failed to attend dad David's 50th birthday celebrations Credit: Instagram / @brooklynpeltzbeckham 'Brooklyn's influencer work is lucrative, and he has his Cloud 23 (hot sauce brand), which is beginning to do pretty well,' says a pal. 'He certainly contributes a lot financially to the marriage and, of course, Nicola is savvy and keen to make them a brand in their own right as a couple. "You'll notice all their recent red carpet appearances have been together, and they very much seem to come as a pair at the moment.' Case in point, their recent Glamour Germany front cover, a special 'Love Rules' edition for the digital mag. The highly tactile pair gave a touching interview, talking about their early days of courting. Came to a head Brooklyn said of his wife: 'You should marry your best friend. Someone who feels like home. For me, that's Nicola.' He also revealed his 'strict' parents banned him from getting a tattoo until the day he turned 18, while Nicola, 30, who is Jewish, said her first inking read 'family first' in Yiddish. Brooklyn's first tattoo, of course, was a tribute to his once-beloved dad. How sad, then, to see things turn out this way. In the same interview, the couple recalled their emotional wedding day — a day that has since proffered, as the late Queen might have said, 'very differing recollections'. In fact, it was recently claimed that Nicola cried on her wedding day after Victoria 'hijacked' the first dance. The Beckhams have furiously denied this, livid at the suggestion Victoria would deliberately upset her daughter-in-law. Ultimately, all anyone wants is for Brooklyn and Nicola to be happy, and for some sort of wider truce David's pal There is, though, a wedding video of the entire day which, I'm told, Nicola and Brooklyn have in their possession. They could, then, clear up any mistruths once and for all, if and when they want to. To recap, Brooklyn has not spoken meaningfully to his parents in seven months. Tensions came to a head last month when Brooklyn failed to attend former England star David's 50th birthday celebrations, despite him being in the UK that week. His friends claim he tried to meet his dad for a private coffee, but was rebuffed. The pair's last communication is understood to have been a 'happy birthday' text. While pals blame the fallout on younger brother Romeo's romance with DJ Kim Turnbull — which she has denied — the Beckhams point the finger of blame solely at Nicola. In truth, there has never been much love lost there — bar a brief detente around 18 months ago — and they accuse her of driving a wedge between Brooklyn and his once-inseparable family. At the same time, Brooklyn has developed a deep bond with the actress's own family — regularly praising them on Instagram and spending 'happy' time with them at their home. However, David's pals believe Father's Day on Sunday may have 'offered up some hope' — because Brooklyn did not use the occasion to praise his father-in-law. 'That would have been an utterly devastating kick in the teeth,' I'm told. OK, he didn't post a tribute to David, but he also didn't do one for Nelson. It's a tiny, silly thing, really — but everyone is hopeful it's an olive branch of sorts. 'It's all very messy but, at the end of the day, these are two loving families, albeit with very different views and core beliefs, who just want the best for their kids. 'There is no right or wrong, and it's heartbreaking for everyone involved. 'Ultimately, all anyone wants is for Brooklyn and Nicola to be happy, and for some sort of wider truce. It just takes someone to make the first move.' 10 Brooklyn 'bought' a £10million Hollywood mansion with his wife Credit: Instagram
The Sun
18-06-2025
- Entertainment
- The Sun
Key to toxic rift between Beckham and Peltz camps finally REVEALED – and why David & Victoria fear Brooklyn is ‘trapped'
THE Bank of Mum and Dad is a bone of contention for many a Boomer and Generation X-er – just ask David and Victoria Beckham. After months of heartbreaking animosity between Brooklyn and his parents, money — I'm told — has long caused a fractious divide between his own family and his bride's. 10 10 News of Posh and Becks' eldest son 'buying' a £11million Hollywood mansion with wife Nicola Peltz has brought tensions simmering, once again, to the surface. Because I can reveal that Brooklyn does not entirely own the swanky five-bed, six-bathroom pad overlooking the magnificent Pacific Ocean. Largely Nicola — the daughter of a billionaire — does. According to concerned friends of David and Victoria, this leaves Brooklyn 'trapped', as does a forensic pre-nup which, again, was drawn up to secure the Peltz family 's enormous wealth — a fortune that relatively dwarves the Beckhams'. But, as ever in this ongoing row, there are counter-arguments from both sides. Incredibly, the Peltzes accuse the Beckhams of being 'tight' and not amply providing for their beloved son. A source tells me: 'Money, so the saying goes, is the root of all evil. 'Certainly, in the case of the Beckhams vs Peltzes, it's proven... tricksy. David and Victoria are two working-class kids done good. 'They have grafted hard for their money and understand that with privilege comes responsibility. 'On principle, they will not needlessly spoil their kids and have taught them the value of both industry and money. They're like Gordon and Tana Ramsay in that regard. 'Honourable intentions' 'So, when it came to buying this house, of course they weren't just going to hand their son millions of pounds — what sort of message does that send? Brooklyn Beckham's family rift deepens as he turns back on UK by splashing out £11m on LA mansion with wife Nicola Peltz ' Nelson Peltz, on the other hand, is a billionaire investor and he and his wife Claudia regard Nicola, their little girl, as the apple of their eye. 'Understandably, they want to indulge her and ensure she never struggles — they expected the Beckhams, worth half a billion themselves, might match them penny for penny. Or, at least, chip in with financials as and when. 'That hasn't always happened, so they are annoyed and telling people it's a bit tight, which would utterly enrage David and Vic if they knew. 'They claim the Beckhams effectively cut off their kids financially when they turn 18.' Such an accusation would doubtless enrage Team DVB. Indeed, it does. It is, I am told, 'nonsense'. A friend hits back: 'To be crystal clear, David and Victoria will always support Brooklyn if and when he needs it. "When he was setting up on his own, they would regularly help him out — as parents do — but they won't spoil him. They still help all their grown-up kids.' Brooklyn and Nicola's new home was largely paid for using her trust fund money — but, as the 'settlor', or creator, of the fund. Nelson had to sign off the release of any money. Pals insist both Brooklyn and Nicola also put in their work savings, and have 'been saving for years'. It is not known how much they contributed themselves Nicola's camp, meanwhile, insists this house has 'nothing to do with family dynamics'. And they say that for Brooklyn — who spent much of his childhood in California while his dad David played for LA Galaxy — 'LA has always felt like home'. However, another source says the new pad was actually the couple's second house purchase. Nelson was adamant first time around that the young couple must 'both only buy a house they can afford'. They ended up selling the initial property. So this, then, is their first proper home together and will doubtless be a place they hope to one day raise a family. Although, not for now, according to one of Nicola's pals, who says she recently started work on a new film and is currently on location shooting. That movie, I'm told, co-stars little- known English socialite Jazzy de Lisser, and has a £1.2million budget. It is described as 'art house' and 'lets Nicola show off her acting mettle.' Sadly, the positive PR surrounding Nicola's last film, 2024's Lola, seems a world away. The glitzy red carpet premiere in Los Angeles was attended by Victoria, as well as Brooklyn's brothers, Romeo and Cruz. (David was away working at the time and Harper was at school). Today, ex- Spice Girl VB would sooner get on stage to belt out Wannabe a cappella than support one of Nicola's projects. The new purchase for the Peltz-Beckhams (the throughly modern couple sweetly wanted to take each other's surnames) comes three years after their lavish £3.5million wedding. The ceremony was held within the grounds of the Peltzes' stunning Floridian family estate. They are understood to have largely paid for the event — as is custom. The Beckhams, however, offered the services of pal Marc Anthony as a superstar wedding singer, and bought the couple a vintage Jaguar as a gift. In the weeks leading up to the divisive nuptials — more on these later — Brooklyn, 26, reportedly signed the 'mother of all pre-nups '. Not surprisingly, canny Nelson — with whom Brooklyn is extremely close — ensured that, in the unlikely case of divorce, his family assets would be protected. 'Pre-nups are standard practice Stateside,' says someone familiar with the Peltz-Beckham contract. 'Especially if you're a billionaire. 'To be honest, the Beckhams were very relaxed about it all. To be frank, it was entirely unexpected — and very welcome — for Brooklyn to have met someone who comes from more wealth than him. It was entirely unexpected — and very welcome — for Brooklyn to have met someone who comes from more wealth than him 'They felt Nicola's intentions were entirely honourable, and the paperwork effectively made sure that what both parties put into the marriage, they would take back out. 'It wasn't a problematic moment.' While not 'problematic', it does mean Brooklyn must keep earning. A kept man, he is not. 10 10 'Brooklyn's influencer work is lucrative, and he has his Cloud 23 (hot sauce brand), which is beginning to do pretty well,' says a pal. 'He certainly contributes a lot financially to the marriage and, of course, Nicola is savvy and keen to make them a brand in their own right as a couple. "You'll notice all their recent red carpet appearances have been together, and they very much seem to come as a pair at the moment.' Case in point, their recent Glamour Germany front cover, a special 'Love Rules' edition for the digital mag. The highly tactile pair gave a touching interview, talking about their early days of courting. Came to a head Brooklyn said of his wife: 'You should marry your best friend. Someone who feels like home. For me, that's Nicola.' He also revealed his 'strict' parents banned him from getting a tattoo until the day he turned 18, while Nicola, 30, who is Jewish, said her first inking read 'family first' in Yiddish. Brooklyn's first tattoo, of course, was a tribute to his once-beloved dad. How sad, then, to see things turn out this way. In the same interview, the couple recalled their emotional wedding day — a day that has since proffered, as the late Queen might have said, 'very differing recollections'. In fact, it was recently claimed that Nicola cried on her wedding day after Victoria 'hijacked' the first dance. The Beckhams have furiously denied this, livid at the suggestion Victoria would deliberately upset her daughter-in-law. There is, though, a wedding video of the entire day which, I'm told, Nicola and Brooklyn have in their possession. They could, then, clear up any mistruths once and for all, if and when they want to. To recap, Brooklyn has not spoken meaningfully to his parents in seven months. Tensions came to a head last month when Brooklyn failed to attend former England star David's 50th birthday celebrations, despite him being in the UK that week. His friends claim he tried to meet his dad for a private coffee, but was rebuffed. The pair's last communication is understood to have been a 'happy birthday' text. While pals blame the fallout on younger brother Romeo's romance with DJ Kim Turnbull — which she has denied — the Beckhams point the finger of blame solely at Nicola. In truth, there has never been much love lost there — bar a brief detente around 18 months ago — and they accuse her of driving a wedge between Brooklyn and his once-inseparable family. At the same time, Brooklyn has developed a deep bond with the actress's own family — regularly praising them on Instagram and spending 'happy' time with them at their home. However, David's pals believe Father's Day on Sunday may have 'offered up some hope' — because Brooklyn did not use the occasion to praise his father-in-law. 'That would have been an utterly devastating kick in the teeth,' I'm told. OK, he didn't post a tribute to David, but he also didn't do one for Nelson. It's a tiny, silly thing, really — but everyone is hopeful it's an olive branch of sorts. 'It's all very messy but, at the end of the day, these are two loving families, albeit with very different views and core beliefs, who just want the best for their kids. 'There is no right or wrong, and it's heartbreaking for everyone involved. 'Ultimately, all anyone wants is for Brooklyn and Nicola to be happy, and for some sort of wider truce. It just takes someone to make the first move.'
The Irish Sun
18-06-2025
- Entertainment
- The Irish Sun
Key to toxic rift between Beckham and Peltz camps finally REVEALED – and why David & Victoria fear Brooklyn is ‘trapped'
THE Bank of Mum and Dad is a bone of contention for many a Boomer and Generation X-er – just ask David and Victoria Beckham. After months of heartbreaking animosity between Brooklyn and his parents, money — I'm told — has long caused a fractious divide between his own family and his bride's. Advertisement 10 Brooklyn wraps his arms around wife Nicola in tender snap, as it's now revealed money has long caused a divide between both of their families Credit: Instagram 10 Brooklyn, right, will not get 'needless handouts' from parents David and Victoria Credit: Getty 10 Meanwhile, Nelson and Claudia like to 'indulge' daughter Nicola Credit: Instagram 10 News of Posh and Becks' eldest Advertisement Because I can reveal that Brooklyn does not entirely own the swanky five-bed, six-bathroom pad overlooking the magnificent Pacific Ocean. Largely Nicola — the According to concerned friends of David and Victoria, this leaves Brooklyn 'trapped', as does a forensic pre-nup which, again, was drawn up to secure But, as ever in this ongoing row, there are counter-arguments from both sides. Incredibly, the Peltzes accuse Advertisement 'Certainly, in the case of the Beckhams vs Peltzes, it's proven... tricksy. David and Victoria are two working-class kids done good. 'They have grafted hard for their money and understand that with privilege comes responsibility. 'On principle, they will not needlessly spoil their kids and have taught them the value of both industry and money. They're like Gordon and 'Honourable intentions' 'So, when it came to buying this house, of course they weren't just going to hand their son millions of pounds — what sort of message does that send? Brooklyn Beckham's family rift deepens as he turns back on UK by splashing out £11m on LA mansion with wife Nicola Peltz ' apple of their eye. Advertisement 'Understandably, they want to indulge her and ensure she never struggles — they expected the Beckhams, worth half a billion themselves, might match them penny for penny. Or, at least, chip in with financials as and when. 'That hasn't always happened, so they are annoyed and telling people it's a bit tight, which would utterly enrage David and Vic if they knew. 'They claim the Beckhams effectively cut off their kids financially when they turn 18.' Such an accusation would doubtless enrage Team DVB. Indeed, it does. It is, I am told, 'nonsense'. Advertisement 10 Brooklyn puffs a cigar with father-in-law Nelson Credit: Nicola Peltz/Instagram 10 Nicola, centre, posing with mother-in-law Victoria and her mum Credit: Instagram/nicolaannepeltzbeckham A friend hits back: 'To be crystal clear, David and Victoria will always support Brooklyn if and when he needs it. "When he was setting up on his own, they would regularly help him out — as parents do — but they won't spoil him. They still help all their grown-up kids.' Brooklyn and Nicola's new home was largely paid for using her trust fund money — but, as the 'settlor', or creator, of the fund. Nelson had to sign off the release of any money. Advertisement Pals insist both Brooklyn and Nicola also put in their work savings, and have 'been saving for years'. It is not known how much they contributed themselves To be crystal clear, David and Victoria will always support Brooklyn if and when he needs it Friend Nicola's camp, meanwhile, insists this house has 'nothing to do with family dynamics'. And they say that for Brooklyn — who spent much of his childhood in California while his dad David played for However, another source says the new pad was actually the couple's second house purchase. Nelson was adamant first time around that the young couple must 'both only buy a house they can afford'. Advertisement They ended up selling the initial property. So this, then, is their first proper home together and will doubtless be a place they hope to one day raise a family. Although, not for now, according to one of Nicola's pals, who says she recently started work on a new film and is currently on location shooting. That movie, I'm told, co-stars little- known English socialite Jazzy de Lisser, and has a £1.2million budget. It is described as 'art house' and 'lets Nicola show off her acting mettle.' Sadly, the positive PR surrounding Nicola's last film, 2024's Lola, seems a world away. The glitzy red carpet premiere in Los Angeles was attended by Victoria, as well as Brooklyn's brothers, Romeo and Cruz. (David was away working at the time and Harper was at school). Today, ex-Spice Girl VB would sooner get on stage to belt out Wannabe a cappella than support one of Nicola's projects. Advertisement The new purchase for the Peltz-Beckhams (the throughly modern couple sweetly wanted to take each other's surnames) comes three years after their lavish The Beckhams, however, offered the services of pal In the weeks leading up to the divisive nuptials — more on these later — Brooklyn, 26, reportedly signed the 'mother of all Not surprisingly, canny Nelson — with whom Brooklyn is extremely close — ensured that, in the unlikely case of divorce, his family assets would be protected. Advertisement 'Pre-nups are standard practice Stateside,' says someone familiar with the Peltz-Beckham contract. 'Especially if you're a billionaire. 'To be honest, the Beckhams were very relaxed about it all. To be frank, it was entirely unexpected — and very welcome — for Brooklyn to have met someone who comes from more wealth than him. It was entirely unexpected — and very welcome — for Brooklyn to have met someone who comes from more wealth than him 'They felt Nicola's intentions were entirely honourable, and the paperwork effectively made sure that what both parties put into the marriage, they would take back out. 'It wasn't a problematic moment.' While not 'problematic', it does mean Brooklyn must keep earning. A kept man, he is not. Advertisement 10 Nicola and Brooklyn on the Glamour mag cover 10 The Peltzs accuse the Beckhams of being 'tight' and not amply providing for their son 10 Tensions came to a head when Brooklyn failed to attend dad David's 50th birthday celebrations Credit: Instagram / @brooklynpeltzbeckham 'Brooklyn's influencer work is lucrative, and he has his Cloud 23 (hot sauce brand), which is beginning to do pretty well,' says a pal. 'He certainly contributes a lot financially to the marriage and, of course, Nicola is savvy and keen to make them a brand in their own right as a couple. Advertisement "You'll notice all their recent red carpet appearances have been together, and they very much seem to come as a pair at the moment.' Case in point, their recent Glamour Germany front cover, a special 'Love Rules' edition for the digital mag. The highly tactile pair gave a touching Came to a head Brooklyn said of his wife: 'You should marry your best friend. Someone who feels like home. For me, that's Nicola.' He also revealed his 'strict' parents banned him from getting a tattoo Brooklyn's first tattoo, of course, was a tribute to his once-beloved dad. How sad, then, to see things turn out this way. Advertisement In the same interview, the couple recalled In fact, it was recently claimed that Nicola cried on her wedding day after Ultimately, all anyone wants is for Brooklyn and Nicola to be happy, and for some sort of wider truce David's pal There is, though, a wedding video of the entire day which, I'm told, Nicola and Brooklyn have in their possession. They could, then, clear up any mistruths once and for all, if and when they want to. To recap, Brooklyn has not spoken meaningfully to his parents in seven months. Tensions came to a head last month when Advertisement His friends claim he tried to meet his dad for a private coffee, but was rebuffed. The pair's last communication is understood to have been a 'happy birthday' text. While pals blame the fallout on younger brother Romeo's romance with In truth, there has never been much love lost there — bar a brief detente around 18 months ago — and they accuse her of driving a wedge between Brooklyn and his once-inseparable family. At the same time, Brooklyn has developed a deep bond with the actress's own family — regularly praising them on Instagram and spending 'happy' time with them at their home. However, David's pals believe Father's Day on Sunday may have 'offered up some hope' — because Brooklyn did not use the occasion to praise his father-in-law. Advertisement 'That would have been an utterly devastating kick in the teeth ,' I'm told. OK, he didn't post a tribute to David, but he also didn't do one for Nelson. It's a tiny, silly thing, really — but everyone is hopeful it's an olive branch of sorts. 'It's all very messy but, at the end of the day, these are two loving families, albeit with very different views and core beliefs, who just want the best for their kids. 'There is no right or wrong, and it's heartbreaking for everyone involved. 'Ultimately, all anyone wants is for Brooklyn and Nicola to be happy, and for some sort of wider truce. It just takes someone to make the first move.' 10 Brooklyn 'bought' a £10million Hollywood mansion with his wife Credit: Instagram Advertisement
