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.

I don't know anyone who didn't have help either in the form of gift, loan or living at home to save.

I didn’t have any financial help but i did live with my parents in my early 20’s (paying digs and working) while my partner and I saved up for a 10% deposit

Why would you not class this as help?

Oh yes! We got a deposit together with help of parents, grandparents, personal savings and the crypto gods.

no but it was 2007 so 100% deposits were around!

We didn't but DH (DF at the time) had a deposit from his first house (saved by him); I couldn't have bought by myself.

Nope but it was £80k!

Yes - it was money from my grandfather, who died what I was 8, and which was put into trust until I was 25.

At 25, I got £100k, which I then sat on for 8 years like a numpty cos it was 2008 and the financial crisis, and I was young and earning £17.5k in a crap job so didn't think I'd be able to afford anywhere that was like the nice fun area I was living in at the time, even with a £100k deposit!

Did finally buy a little flat in 2016 while still on a pretty mediocre journo wage, so had to buy much further out from where I was renting so that I could afford the mortgage repayments (needed to be 40% deposit as was buying on my own). At that point, I just wanted to get on the property ladder.

Just bought again this year, and once again, have had to move much further out of the city (albeit to a MUCH nicer area than where my first flat was), to get somewhere bigger, but as affordable. This is also with an additional £150,000 gifted from my parents via the final maturation from the trust.

Am I slightly embarrassed that I'm a 'trustafarian' house buyer? Absolutely. I'm a Capricorn so hate asking people for help or feeling indebted to people. I can't help but feel totally indebted to my wonderful grandparents and parents for having the foresight to do sensible things with this money and really am very grateful.

I also feel awks when I receive Congratulations cards etc from people for my new home. I'm like, 'Congratulations for what? For being supremely privileged and lucky?'

But as they say, don't look a gift horse in the mouth. If it's there, you need to make the most of it.

Nope.

• I paid my own way through uni
• My parents never really understood about uni so never gave me any money towards it so I paid all my own household bills/rent since I moved to uni at 18
• Plus was the first generation to have to pay fees via a student loan.
• I bought my first house for £250k with deposit money I saved myself and my own mortgage (no partner)
• I've never had an inheritence (though have lost family members)
• For various reasons, I don't expect to ever get an inheritence

I can't say I am not a bit jealous of people who seem to have it all so much easier, but the idea of inheriting or being gifted any significant money is quite alien to my own experience.

I guess it's made me pretty resilient but it has also been fairly lonely, at times. Like the weight of it all has always been just on my shoulders.

My XH put in a deposit that came from his parents - all my deposit came from my own savings for our first house. Our second home we financed ourselves. Since splitting up I have paid my own way in the world.

To clarify I always have paid my own way in the world apart from XH's parents providing a deposit. I earned more than my XH.

No help from family but I did get a £500 inheritance from a lady whose dog I used to walk as a child! That was our first deposit, then many years later we got another inheritance which enabled us to buy our 'forever, dream' home

Yes I was very lucky. My Dad paid for the whole of my wedding with an insurance he took out on the birth of each DD. He had 5 girls and no boys. He also paid 10 percent for my first mortgage. That was many years ago and my first home was only £45,750. No stamp duty then either and MIRAS mortgage relief.

We saved the deposit for our first house while working. No help from anyone and rented separate flat/house shares while we saved.
DS received no help to buy his lovely London property as we spent a lot on private education but he saved a hefty deposit working abroad.

I've passed the favour on though helping out all 3 of my DC with deposits and just gifted the youngest £50k from equity of selling one of our btl houses. He will get a bit less when we die.

So many parents gifting fridge/freezers on this thread.

My parents did not charge me rent when I was working and living with them as they did prefer for me to be able to have a deposit for a house. I moved to another country when I was 26 to live with my boyfriend so I had a good bit of money saved. We rented a place for 3 years in London, bought a house in the countryside as ex husband wanted to be closed to his family, I had no choice in the matter it was either I followed or we break up, I was in love so I followed, should really have listen to my head and not heart but that is another story. Had to find a new job as couldn't commute from where we bought the house to my job in the capital, found on very quickly but house wasn't finished so had to live with the in laws who charged us rent for the 3 months I stayed with them so we have to pay a mortgage, rent in London, rent to my in laws (they were charging me £ 450 a month for the privilege of having to share a bedroom with my sil (they did have a spare bedroom but can't remember the reason why I couldn't use it) and one evening meal l, I had breakfast and lunch at work, I only stay with them Monday to Friday, was going back to London at weekend as my ex husband did not have a job yet in the area we built the house. Thank you for my parents and f* the in laws mean bastard, I do get on well with them by the way but my god they are greedy with money. I will do what my parents did to me to my kids and hope God ex husband will do the same but he really takes after his family so I don't have much hope despite he earns way more than me.

No help at all from parents. Most people I knew had some help but that's no something my parents were in a position to do but then I've also never expected it from them.

Rented shared housing since 18 at uni and put down a 10% (approx 45k) deposit about age 26.

I got 90K from parents and 20 k I saved up from living abroad with low taxes and living with parents before then. That was only 20% deposit in London btw!

My husband and I made silly choices tbh which meant buying a house on our own would have been impossible. (Having children young, when we were financially unstable). We were fortunate my parents are wealthy and generous and gave us a 5 figure deposit and allowed us to live with them for 8 months whilst the sale went through.

To be honest, house prices in our area have shot up, and our house now, at its current value would be unaffordable to us even now with a household income of 6 figures (we bought it on a household income of 50k quite comfortably). I don’t know what new buyers are expected to do tbh.

We got about £25k from an inheritance (from someone I didn't know). Our house cost £92k. It made it easy for us. We both had decent jobs.

We've helped our four kids leaving them with a modest mortgage to pay on their homes. Better they have the cash now than pay inheritance tax.

I haven't bought yet! But my sister just did and got £5k from our parents and £5k from our grandparents. I've been given £10k to add to the savings. This was initially savings for weddings but having a place is so much more important to be honest.

We have about 40k sitting and will have to wait until at least next year to think about buying. I've just had a big raise and we're just living as though I haven't and putting it all in the savings. We would be looking at something between 200-300k and obvious we have the ten percent, but the offers over bit (in Scotland) is murder. I know my sister had to go for the 5% mortgage to put more down for the offers over. I think we will be lucky to get even if we save up an additional 10k as planned this year.

My SIL also just bought a house and got a bit of money from FIL. I don't know particulars but seems like it was quite a bit more than the 10k from my family. I don't want to be going asking but maybe FIL will give us some too? Or loan us for all the fees :')
OHs family are more well off than my family but have six children at various stages of "adult", so I'm not sure how all that works.

No but we bought in 1993 and our first house was £32,000. We had a fairly big deposit in relation to the cost. We did help our eldest daughter with her deposit.

No help at all. Got 100% mortgage at age 23 but in a very low house price area. House prices doubled within 3 years and I sold which gave me 40k deposit for my next house. Purely down to buying at the right time and at a time mortgages were practically given away