One in four new UK homebuyers under 25 rely on ‘bank of mum and dad’ – study

Research by Bank of England economist reveals huge scale of parental support in housing market

The massive scale of parental support for young people seeking to buy their first property has been revealed in a UK study showing one in four new homebuyers under 25 rely on the bank of mum and dad".

A blogpost by a Bank of England economist found that even before the sharp increase in house prices during the Covid-19 pandemic, the children of better-off parents were able to become owner occupiers four years earlier than those without parental support.