Find out how Mumsnetters got help from their parents to get on the property ladder

[LucyBMumsnet]

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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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We stayed at my mum's house rent free while we were saving for our deposit, we just paid our bills which helped alot.

No help - and I never asked for any...

They helped me once I purchased my first house by assisting with decorating and maintenance. Saved me hiring workmen.

thankfully my mother and father in law have lent us money to get us on the property ladder - they lent us enough for a deposit - we were wasting thousands on rent each year. It's wonderful to now own our own home. We're hoping to start a fund to help our girls get on the property ladder when they come of an age too.

My dad offered to help me with my first house purchase. He said he would take the money which was essentially my inheritence and use it to put towards buying a house - this was back in 1999 when property prices were much lower. We got a 2 bedroom, semi for £31k - he paid for it outright and I paid him monthly rent at a much lower rate than a normal landlord.

I lived there for just over 6 years and we sold it for three times what we'd paid, he then paid the money back into my inheritence and I got a cash payout too. This helped me get on the property ladder so much and I will always be grateful to him for doing it for me.

No help from my parents, and we won't inherit anything either as it is all left to my sisters DC (who just inherited 250k each from another grandparent).
DH parents left us money that we used for renovations.

My parents kindly gifted us £20k for a house deposit. DH has a single Mum who couldn't afford to help out which is fine, no expectations. We do hope to be able to help our children when the time comes round.