The Bank of Mum and Dad | Helping children to get onto the property ladder

Family Wealth is the Key to Homeownership

In 2024, family financial support helped fund 42% of all home purchases for buyers under 55. With housing prices soaring, parental and generational wealth is now a decisive factor in securing property.

Beyond Parents: The Rise of Multigenerational Support

It’s not just parents bankrolling home purchases—grandparents and even siblings are stepping up. This wave of family-backed buying is expected to fuel over 335,000 transactions this year. This is the highest recorded since tracking began in 2016.

Billions Flowing into the Property Market by Mum and Dad Bank

The average family contribution is set to hit £24,000 per purchase in 2024. By 2025, total family funding is projected to surge to £9.8 billion. Homes purchased through this support will reach an astounding £70 billion in value.

Unlock family wealth

The CEO of a leading financial group warns: “Family wealth is becoming essential for homeownership, effectively shutting out those without financial backing.” Studies confirm that without family support, many buyers would face delays of five years or more – or be priced out entirely.

First-Time Buyers

A young homeowner shares: “Without my parents’ help, I’d be renting for years. Their support meant we could afford a bigger deposit and secure lower mortgage rates.”

More Than Just a Leg Up – A Competitive Edge

Family-backed buyers don’t just get on the ladder—they climb it faster. With bigger deposits, they can afford better properties, lower interest rates, and greater financial stability.

A Lifeline, But Not Without Risks

While gifting money to loved ones can be life-changing, it requires careful legal and financial planning. This helps to protect both the giver and the recipient.

Garner & Hancock helps you to Protect and Plan

Helping your children onto the property ladder is one of the most meaningful financial gifts you can give. However, without the right guidance, it can come with risks. At G&H, we specialize in ensuring that your generosity is legally secure, tax-efficient, and structured to protect both you and your loved ones. Whether it’s drafting loan agreements, setting up trusts, or advising on inheritance tax implications, our expert team is here to help.

Don’t leave your family’s future to chance. Get in touch today to discuss how we can support you in making a secure and strategic property investment for your loved ones.