Home help gives buyers a head start in property

FIRST-TIME buyers getting help from the “bank of mum and dad” typically make the jump onto the property ladder two years earlier and buy homes worth nearly £40,000 more, compared with those without additional help, analysis indicates.

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UK Finance said that the growing reliance on financial help from relatives “risks deepening inequality in the housing market”.

It looked at the impact of family financial support in the first-time buyer market by analysing “assisted” and “unassisted” buyers in 2024.