Family help

According to the Council of Mortgage Lenders, in 2012 65% of first-time buyers received some form of family assistance in order to purchase their first property.

Fortunately, the Bank of Mum and Dad does not necessarily have to hand over a wad of cash to to help first-timers buy property.

There are options for those willing and able to help out, from pooling savings in an account with the mortgage lender to augment a small deposit, to standing guarantor for the mortgage repayments.


Virgin removes £30k income threshold on Help to Buy equity loan and opens scheme to Scotland and Wales

Virgin Money is set to remove the £30,000 minimum income threshold for joint and sole income on its Help to Buy Equity Loan range.


Help to Buy scheme gets renters on housing ladder

As first-time buyer lending rose 50%, property firm Countrywide said Help to Buy is directly responsible for a 10% fall in tenants under 30 signing new rental contracts.


Parents seek larger homes for live-in adult children

A fifth of parents who moved in the last six months wanted a bigger home in the expectation that their children will live with them until their late 20s, a study has found.


Over 700,000 wannabe homebuyers relying on windfall

More than three quarters of a million people are relying on an inheritance to help them onto the property ladder, a study shows.

A hammer about to smash a piggy bank

Bank of Mum and Dad failing first-time buyers

Half of aspiring homebuyers need family help – but only 16% expect to get it.


First-time buyers needed as mortgage approvals wane

Mortgage approvals for housing purchase in February fell 6% compared to the previous year, British Bankers' Association data has shown.


Cambridge BS accelerates lending to five-year high

Cambridge Building Society increased its gross mortgage lending by 52% to £220m, its annual results have revealed.

Graphic showing rise in money

Parents hike rents by 25%

A study has revealed that parents have upped the rent they charge adult offspring by an average of 25% in the course of the last year.


Barclays launches family first-time buyer mortgage

Woolwich, mortgages from Barclays, has launched a competitive new mortgage aimed at first-time buyers with small deposits.

first-time buyer

First-time buyer lending up

The number of first-time buyers taking out a mortgage in October increased by 20%.

home sweet home

Brits still dream of homeownership

Brits still aspire to be a nation of homeowners according to Clydesdale and Yorkshire Banks.


Nationwide to cut interest rates for first-time buyers

Nationwide Building Society will cut the interest rates charged on reduce its 90% loan-to-value (LTV) mortgages by 0.5% to 0.7% tomorrow.

home sweet home

Nationwide hits highest lending levels in four years

Nationwide Building Society’s lending to first-time buyers has doubled in the first six months of the financial year and has reached its highest level of lending in four years.


London first-time buyer numbers hit 3-year high

The level of first-time buyers in London hit a three-year high in the last quarter, despite the affordability issues faced by many in the Capital.


Halifax receives 1,000 NewBuy applications

Halifax has passed the 1,000 mark for NewBuy applications, seven months after the lender launched its products as part of the scheme.

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If you have a question about mortgages or homebuying, why not ask Editor in Chief Paula John?

Paula is CeMap qualified.

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Houses of Parliament
Guide to Government schemes

There are a number of Government schemes in place to help first-time buyers, key workers and other lower earners onto the property ladder.

Guide to moving home

Before you start looking for a specific property, it makes sense to choose a defined area and check it out.

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