Bank of mum and dad

w00519772

I am in the process of buying a house. I have saved a deposit over eleven years.

I am interested to know how much help other first time buyers have had from their parents and whether this was a loan or a present.

My parents have allowed me to rent at home for the past twelve months at a reduced rate.

I_have_spoken

Many, many years ago as an FTB I had a gift of £5k from my mother, from the proceeds of selling grans house after she died.

dimbo61

Everyone is different with parents who can afford to help and others who can not.
I like offset mortgages but stand on my own two feet
Still Love my Mum and Dad :-)

[Deleted User]

My gift from my parents was a new tumble dryer and all my dining plates bowls etc. figured they had spent enough on me over the years and did give me my first car (£800 cavalier) to drive. Have worked with some people who got £10k as a gift (wow)

christineperseus

I had no help from my parents - and didn't expect any.

BitterAndTwisted

I didn't receive a single penny for anything from either parent after I left home

Kazza_Monkey

Never had any help either in fact it's now us helping my parents as mum can't afford to retire with the debt and mortgage they have. So won't even get an inheritance not that it really bothers me at all.

[Deleted User]

I appreciated all the help my parents gave me, but for my little girl we have a savings fund set up for when she is older which will be worth a lot of money so hopefully it will give her a good start in life towards a home...

McKneff

I got nothing because they had nothing, so didn't expect anything.

Brallaqueen

one year living at home with mum just paying the bills so that i could save (200ishpcm). Then mum kindly gave me 400 towards furnishing my flat.
I have always paid my mum out of my wages to help her cover bills, the amount has fluctuated but currently stands at 75 pcm , so i think it evens out

mumto2loves

when I was looking for a place to buy I could only afford places in areas my parents (dad especially!) didn't want their little girl living in. So they gave me £10,000. £5000 was an unwritten / unrecorded loan which was to be paid back when I sold and moved on, £5000 was a gift. It made a huuuuge difference to what I could buy.

When I did sell and move on I offered them £10,000 back but they wouldn't take it and said that because we had chosen to get married for less than £200 we could keep it all as a wedding gift /contribution.
:j