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Getting on the property ladder can be an uphill battle for first-time buyers - from the financial challenges to the legal paperwork it throws at home seekers, many rely on help from parents to make it happen. That’s why we want to find out if you’re considering or currently purchasing or have already purchased your first home and how you went about it.
So we are asking you what help you received or are receiving from your parents, if at all, and roughly, when this was? Who started the conversation, you or your parents? Did you tap into the Bank of Mum and Dad and how did you do that - through their savings, using their existing assets or property, them getting a loan, accessing their pensions or another way? Was it in the form of gift, loan or early inheritance? Did you seek legal advice and formalise the process with your parents? If so, how easy was it to sort out the legal side?
If you could, how would you change the process of receiving your parents’ financial support when buying your first home? If you’re considering saving for your own children’s futures - perhaps so they can buy a home - what’s important to you?
Whether you have considered, currently getting on the property ladder or already have your first dream home, post your thoughts on the topic on the thread below. All MN users who leave their opinion will be entered into a prize draw where 1 lucky winner will get a £150 voucher for a store of their choice (from a list).
Thanks and good luck,
MNHQ
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Find out how Mumsnetters got help from their parents to get on the property ladder
457 replies
LucyBMumsnet · 17/12/2019 09:52
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