[Cherie]

Originally Posted by Toy Soldier

Such a generalisation Cherie.

In the late 80’s My wife’s parents were helped to buy their first home by both of their sets of parents in their early 20’s and traded up and up through the property booms of the 90's and early 00’s.

In 1983 my own maternal grandmother sold my parents her 4 bedroom house at a fraction of market value when my sister was born (they were in their mid 20’s), asking only the cost of the one-bed bungalow she was moving to.

My parents got divorced and sold up everything, my mum is already dead and my dad has no solo assets left and a much younger wife so I’ll get nowt when he does die.

My wife’s parents are only 15 years older than me so we're likely to be pushing retirement by the time we inherit anything from that side.

Yes we’re doing well at this point but literally every penny is ours. To suggest that “the bank of mum and dad” is new and available to all, or that it didn’t exist for anyone in the 80’s, is just not true. We were extremely poor in our early to mid 20’s and got no help at all. Both of our sets of parents got heaps of help.

I never said it was available to all...I said it was more prevalent these days borne out by facts and figures, there are even whole websites dedicated to it


https://www.familybuildingsociety.co...rch-and-guides


Bank of Mum and Dad
It's now quite common for young people, and particularly first time buyers, to receive a contribution from parents or other family members to help with a house purchase. With the need to provide ever increasing deposits, the Bank of Mum and Dad is now busier than ever.

The Bank of Mum and Dad is one of the UK's biggest mortgage lenders but how does it really work?


Of course there will be people who got help back in the day but it was not the norm, and there was clearly a push to buy especially among the working class particularly when social housing was sold off

People can release built up equity in their property in various ways so there are ways for parents to help if they are in a position to do so without dying!