Bank of mum and dad

Npadgham

My parents gave me (and my husband) £10,000 towards the deposit on our first home in 2006.

They had always lived modestly and invested money for their three girls so that they could help us out in life, be that for University, a house or other.

I couldn't be more appreciative of what they did for us and I'll do all I can to provide the same for my boys in the future.

I'm sure all parents do what they can to help and I know how fortunate I've been.

agrinnall

A loan from the bank of mum and dad would often be of little help as all that does is reduce mortgage borrowing by the same amount, an outright gift is the only thing that actually increases the overall amount you can spend on a property.

Blackeyez09

No help here
Managed to save 12000 pounds within past 6-7 months from salary alone
I'm quite lucky that I can work extra hours which accommodated this
Still hoping to use help to buy.... Though
I'm just grateful my parents supported me to achieve a great career (junior ophthalmic surgeon/doctor) and that's enough... They don't have much and in fact I help them out now alot... I'm not expecting anything from them as its my responsibility.
I'm the first in my family to climb the ladder.

Pixie5740

No financial help from my parents and I never asked them for any.

Metranil_Vavin

no help here either.

I'm sure if they had been able to though, they would have offered.

bclark

I was able to live at home rent free for four years after Uni and I got given a £10k gift from my grandmother which was fantastic! Luckily my Wife (girlfriend at the time) got the same amount in a gift from her parents.

We have been so lucky, and we are massively grateful, and it's made a huge difference. Now nine years later we are living in a house far nicer than we would have been in without the help as it enabled us to jump a rung or two up 'the ladder' at the beginning.

J_i_m

I'm currently living "at home" rent free, although I do pay a third of all the bills to the utilities I have use of.

This allows me to save approximately half of my income.

The vast majority of my savings has come from my own salary, although I did receive £2k inheritance from a grand parent, and my mother insists on spoiling me at bit to much and offering to help me out with short term cash for essentials (which I mostly refuse).

I guess it'd be nice to have a substantial gift to help me on my way, but I understand that my family are not particularly well off and there is a certain amount of independent pride in earning my own way anyway.

I view it as a comfortable situation being bake to live with a parent "rent free" and it's quite a privilege when I consider that many people do not have that option.

cte1111

I saved up my deposit entirely by myself, no gifts from my parents.

They supported me whilst I was at university by paying my rent. The day I finished my exams, I went out and got a temporary job, I never relied on them for any financial support after that.

Hoof_Hearted

Of course it depends on circumstances. Kids shouldn't expect anything but most parents want them off to a good start. Each of mine got £10,000, but we can afford it. We started with nothing.

junglejame911

We're in the process of buying our first home. Planning to do it all ourselves with no help but if anything was offered then it would be very welcome and a big bonus! Wouldn't expect anything - was always taught to stand on my own two feet and immensely grateful to parents for the way I've been brought up.