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First time buyers and the bank of mum and dad

06th September 2018

Getting that first step on the property ladder certainly isn’t easy. In fact, it can feel incredibly tough with the current housing market and the UK economy the way it is. More and more potential buyers find themselves feeling as though they’ll never own a home. In London especially, exponential rises in house prices feel like setback after setback to those looking to move out of the rental sphere and into a home of their own.

Buying your first home won’t be easy but, fortunately, first-time buyers aren’t entirely on their own. Lenders are offering their best mortgage deals for first-time buyers, while there are also a number of government-backed ISA and LISA programmes designed to help first-time buyers save for their first home.

These schemes, programmes and mortgages continue to grow in popularity, but there is one factor in the support of first-time buyers that often goes ignored: the so-called bank of mum and dad. In this whitepaper, we’ll look into the ways in which the bank of mum and dad provides help and support to first time buyers. We’ll examine the best methods families can use to assist their relatives in climbing the property ladder, while also asking the question as to whether or not the bank of mum and dad is a positive force on Britain’s housing market.


Download the document below for more information on the ways in which the bank of mum and dad can assist those looking to buy their first home.

Click here to download Return to news page
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"Our mortgage adviser Andrew Francis is brilliant. When we first met him we were first time buyers with very limited knowledge about the process of buying a first home in the UK. However, Andrew guided us through the process with his vast knowledge and professionalism. We had to recently re- mortgage our flat, Andrew got in touch with us well in advance he presented us with the best options for us and made the whole procedure painless. Of course, we were a lot more relaxed this time around, as we already knew that we are in good hands. Thank you for your help, Andrew!"

Vyara Panayotova , Feb 2020

Independent review from Google
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"Always been impressed We've used IMC for over 10 years and have always been impressed with the service. They have helped to guide us through various financial issues we've had and we've been able to make better choices as a result. I wouldn't hesitate to use them again"

SusB , May 2020

Independent review from Yell