More than half of first-time buyers rely on ‘Bank of Mum and Dad’
Savills' Lucian Cook says more than half of first-time buyers need financial help from their families to purchase a home.
More than half of all first‑time buyers need cash from the ‘Bank of Mum and Dad’, to get onto the property ladder, Savills says.
While more than three out of five first-time buyers – 64% – draw on their own savings, more than half – at 53% – rely on support from family through gifts, loans, or inheritance.
Overall, gifts and loans from family members totalled £8.3billion in 2025, rising to £11billion when inheritance is included.
Family loans
Outright gifts remain the most common form of support, with twice as many buyers receiving them as those who benefit from family loans – at 32% verses 16%.
And support is not limited to parents alone, with almost half of those receiving gifts or loans receiving contributions from other family members through the ‘Bank of Grandma and Grandad’.
Inheritance also plays a significant role, with the research revealing that 14% of first-time buyers are drawing on inherited wealth, according to a Savills survey.
Crucial component
Lucian Cook, Head of Residential Research at Savills (pictured), says: “First-time buyers continue to feel the impact of higher mortgage rates, which has stretched affordability and kept the average deposit high and maintained a reliance on the so-called Bank of Mum and Dad.
“Less stringent mortgage regulation and gradual easing of rates over time should help to broaden access to home ownership to a degree.
“While that will pave the way for more lower deposit mortgages, it’s clear that family support will remain a crucial component of getting first-time buyers on the housing ladder.”
