Bank of mum and dad

£17 billion is gifted, or informally loaned each year, of which over half is used for property purchase or improvement (The Institute of Fiscal Studies).

Virtually all money transfers come from parents aged over 50 to children in their late 20s and early 30s. The average gift for property purchase or improvement is over £20,000.
The age children leave home is generally between 25 and 27 years, and the average age to purchase a first property is 33. Over 22.4% of families in the UK include one or more adult children.
Research by Legal and General indicates that without the financial help of family and friends, over 70% of prospective home buyers would have to delay their property purchase plans, by an average of 4 years. Source: Dataloft, The Institute of Fiscal Studies, Legal and General, Census 2021

Get in touch with us

First Name

Last Name

Mobile Phone

Your Email Address

Are you looking to

Buy

Sell

Rent

Let

Please enter message here

Please confirm that it is okay for us to contact you about this information as well as our products and services. By confirming, you also agree to the use of cookies to enhance your experience. (You will always have the right to unsubscribe or manage your cookie preferences at any point in the future.)

Confirm

New First-Time Buyer Scheme: What We Know So Far

A new government scheme could help first-time buyers purchase with a deposit of just 2.5%. With more details expected at the October Budget, here’s what prospective buyers need to know.

CLICK HERE >

Is Your Rental Property Ready for Its Next Tenancy?

A change of tenancy is a useful opportunity to review more than the rent. From property condition to compliance and management, a little preparation this autumn can help create a smoother next let.

CLICK HERE >

Can You Still Move House Before Christmas?

Hoping to be in your next home by Christmas? With property transactions taking months rather than weeks, October is the time to understand what’s realistic — and why it can still pay to get moving.

CLICK HERE >

Are You Hoping to Buy in the Next 6 Months?

If moving is starting to feel more realistic, September is a useful time to prepare. Understanding your budget, priorities and local property search now could make things much easier when the right home appears.

CLICK HERE >