Key facts
- Relatives other than parents are a key source of funding for younger buyers.
- This trend is observed among first-time homebuyers in the UK.
A recent study indicates a notable shift in how first-time homebuyers in the United Kingdom are securing the necessary funds for property acquisition. Increasingly, individuals are turning to extended family members, such as grandparents, for financial support, rather than solely relying on their parents. This trend underscores the significant financial hurdles that younger generations are encountering in the current property market, making it difficult to enter homeownership without external assistance.