The value of bank of mum and dad' for home buyers revealed

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"One in five homeowners making their second move on the property ladder are receiving financial assistance from family or friends, new research indicates, highlighting the enduring role of the 'Bank of Mum and Dad' in the UK housing market. While 30 per cent of first-time buyers reported receiving such support, the Barclays' property insights report found that this trend extends to 20 per cent of those progressing to their second home."

"First-time buyers receiving this aid obtained an average of 76,239, while 'second steppers' secured an even higher average of 81,451 towards their home purchase. Notably, nearly three in 10 (27 per cent) homeowners who received financial help for their second or third properties also reported benefiting from support for their first home. This crucial backing typically comes in the form of lump sum gifts from parents, inheritances, or loans provided by family members or friends."

Coverage spans reproductive rights, climate change and Big Tech, including investigations of Elon Musk's pro-Trump PAC and the documentary 'The A Word', which spotlights American women fighting for reproductive rights. The outlet forgoes paywalls and seeks donations to fund on-the-ground reporting, arguing quality journalism should be available to everyone and paid for by those who can afford it. New research indicates one in five homeowners moving to a second property receive family or friend financial assistance. Thirty per cent of first-time buyers reported such support, averaging 76,239, while second steppers averaged 81,451. Support commonly arrives as lump sum gifts, inheritances, or family loans; 52 per cent of renters say they could not buy without family help.

Read at www.independent.co.uk