Did you have any parental help when buying first house?

[forceofagreattyphoon]

Obviously inspired by all the Kirsty allsopp stuff about buying first houses.

Did you have any help from parents or partners parents in any way?

We didn’t get any ‘direct’ money but were only able to save a deposit by living with my parents for very-low rent for 2 years. So technically they did help a lot financially with the process. A lot of people wouldn’t have this option so I am very fortunate and wouldn’t have been able to do it otherwise.

I’d say about 80% of people I know my age (late 20s-early 30s) have all had some form of parental help when purchasing their first house. Ranging from the whole deposit gifted or help with all the fees.

Yes, in the form of inheritance when DH's mum passed away and my parents also contributed to our deposit. We couldn't have bought without it.

No direct monetary help but we were able to also live with DH dad while we saved, it was a year to the date from moving in with him to getting our keys. We'd not have been able to do this if we'd had kids etc and made the decision to hold off having children until our 30's to allow this.

However, we are in a cheap area, only needed £15k for a 10% deposit and fees, and I dread to think how others would do it in more expensive areas.

Yes, my FIL lent us the deposit (55k).

We will be remortgaging and paying back in full next year when our fixed term comes to an end.

None. We bought in the mid 90's. We were renting, DH had to work lots of overtime and I took on two part time jobs as well as my main job . We had to make a lot of sacrifices for a few years but it was worth it.

Yes. Inheritance was around £280k.

Nope. Absolutely nothing. Not a penny. We lived in a room in a house share until we could save.
She is clueless, isn't she?
Just no idea how people live.

Yes, by living with them to save on rent and also gifted an “early” inheritance by an aunt (ie she is still alive but gave DH his share early)

Yes, the entire deposit for my first home, which was £10k (this was a while ago!) and then my mum added a bigger chunk (£60k) for us to buy a bigger house a few years ago.

Like OP, no cash from parents but after a few years working away, I moved back home & saved my deposit in a year.

Like you we lived with family (although not parents) for 18 months for low rent. Then my car got written off and we used the cash payout from that to reach our deposit

We did have a bit of help for our second home, to get our deposit over 15% so we'd get a better rate, but could have managed without....just!

None at all.

We bought a very very cheap very small flat on a 100% interest only mortgage. Selling that a few years later gave us the deposit for a cheap 3 bed house.

Only DH parents and grandparents who gifted us £1k each (total £2k) as a wedding gift which we are eternally thankful for.

No.

Yep. My (very wealthy) mother gave me the entire cost of the property less £50k which I got a mortgage for. Property did well and I sold, moved to a bigger house in a nicer town and was mortgage free by the age of 29. If I’d not had that help I’d probably have just about been able to buy a tiny flat with a 90% mortgage at 29.
I’m VERY aware of my privilege, people who are not or won’t acknowledge how lucky they’ve been, for whatever reason, really grind my gears.

Yes, we got 20k from one side, 10 from the other and saved 30 ourselves.

Yes. Contribution to deposit for first house from my parents. Paid it back plus a share of the increase in value when we moved on to a bigger home. My parents subsequently used the same pot to help out my siblings but it's been kept close now that they've retired.
Couldn't have done it without them.

No. Paid deposit using savings. But 5% then was a lot less than 5% now.

I think we will have to start saving soon to help our children one day.

Yes, my father gave me a 50% deposit, and many of the mortgage payments too as I was a student when I moved in.

Helped with the stamp duty.

I bought by myself with no money/no subsidised rent/ no help at all from my parents (mum lives in a house share and dad AWOL as a child). I bought a 2 bed flat in west London as a single woman at 30 years old in 2017.

Prior I payed market rent in London at £900 PCM and haven't lived at home since I moved out for uni at 18.

Yes, my dad and DH’s parents lent us £20k between them. We’ve since paid them back in full but it was interest free so obviously a massive help.

No. We bought about 16 years ago, and saved our deposit while renting a house - only 5% in those days, and prices were much more modest, so we only needed about £8k. Plus stamp duty and fees. My folks helped us pack and unpack and drove the van, and dad installed a new kitchen for us at the new place. FIL laid a patio. But we had no money from either.

I can fully understand, with prices to buy and rent being what they are today, how much more difficult it is for FTBs without parental help.

Yes. We needed 30k for a deposit and fees and had saved 20k of it. My parents - unexpectedly- gave us the last 10k, which was very kind. As a result we probably bought 18 months or so earlier than we would have done, at a time when house prices were rising quite quickly. Also meant we had DC1 a bit earlier than we would have done as wanted to be in our own home before children. I’m really grateful.

Nope! They did buy me a small under the counter fridge though and unfortunately I lost 10k on my first house due to the crash in 2008! So I had to save for a deposit again when I needed to relocate 😭😭😭😭

No, nothing at all. We private rented and saved a deposit. Luckily we bought our first homein the North west around 18 years ago and our deposit was £5000