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MNHQ

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

457 replies

LucyBMumsnet · 17/12/2019 09:52

This sponsored discussion is now closed

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
OP posts:
gd2011 · 19/12/2019 16:14

My Dad didn't help at all.

angela121262 · 19/12/2019 16:26

By not charging me for room / board for 12 months so I could save for the house deposit

GloriaG0 · 19/12/2019 16:46

My mum moved into a smaller property to give us all some money.

Carolbren · 19/12/2019 17:15

They lent us the deposit, bought household items and on moving day provided a very good hamper (it all helps).

juju3 · 19/12/2019 18:11

They didn't

ButterflyOfFreedom · 19/12/2019 18:20

We were £10k short for the house of our dreams- we didn't want to borrow money & didn't ask but both my parents and my brother offered to lend £5k each.
I can't say how grateful we were!
And yes we're still paying them back...

JoJoY · 19/12/2019 18:30

My Dad lent us some money which we then paid him back in interest-free instalments.

jessiecat333 · 19/12/2019 19:00

I had no financial help from my parents as they weren't able to but they did buy me a washer when we moved in

littlemonkeyz · 19/12/2019 19:37

They didn't but they taught me the importance of hard work and saving for what you want!

IonaAilidh11 · 19/12/2019 19:42

no help from my parents so just saved myself

Her0utdoors · 19/12/2019 19:46

My father helped by being dead and my mum helped by battling the rest of his family for my share of the estate, by teaching me to be frugal and by being so hard to be around that I had moved 300 miles away to a place with cheap housing. I bought mt first house for 36k about 20 years ago.

Rachdayan · 19/12/2019 19:49

The short of it is they didn’t. Everything I have, I have worked for and achieved myself.

Poetryinaction · 19/12/2019 20:01

My parents didn't help but my inlaws gave us £20k. We added £7k to that and put down 20% on £135. Sold 6 years later for £205, having spent about £10k on it. We had paid off a fair amount of our mortgage so bought a bigger house worth £300k. I now have a big mortgage to match my big family. Quite scary, but I am grateful I can house them comfortably.

emmmaaa26 · 19/12/2019 20:07

No help, still can't afford to buy a house.

sarah861421 · 19/12/2019 20:07

my parents were not ina position to help me financially but I did feel that there were there emotionally and I hope that I will be able to pass this on tp my children

nettymay · 19/12/2019 20:10

my Mum and Dad bought their Council House when they were in their 50's so could not help their 4 children to buy theirs.

farhanac · 19/12/2019 20:22

Parents were able to help out with a contribution towards our deposit which helped us over the line

Nikita90 · 19/12/2019 20:29

My nana allowed me and my fiance to live in her house rent-free (we just bought our own shopping) which was a huge help. My father-in-law gave us 25k for our deposit which enabled us to purchase our first property.

dingdang · 19/12/2019 20:40

No help, but bought first flat on a 100 percent mortgage and bought for around double my salary.

Spices001 · 19/12/2019 20:42

I got on the property ladder on my own, saved until I got a deposit together
Proud of that :-)

abigailflo7 · 19/12/2019 20:55

They didn’t I did it all by myself which I am very proud of , bought my first home at 18

anotherweenamechange · 19/12/2019 20:59

I’m not ashamed of having been helped by my parents. I’ll do it for my children if I am in the position to. Surely everyone would?

disdream84 · 19/12/2019 21:03

We got no help from our parents at all, not because they didn't want to help us, they just simply couldn't afford to. We were lucky enough to be able to get a 100% mortgage for our first flat and we live in an area of Scotland where property is very reasonably priced so we were lucky in that sense. My husband and I were only 19 and 21 at the time so still very young, but we both had full time jobs and were (and still are) very proud that we were able to do it all on our own.

towser44 · 19/12/2019 21:08

My parents couldn't afford to help financially, but helped immensely with furnishing, decorating etc

xcxcsophiexcxc · 19/12/2019 21:30

They made me save all my life