The Bank of Mum and Dad is still playing an important role in the UK housing market, with young and even some middle-aged adults continuing to receive financial support from their parents for their first and subsequent property purchases.

Their assistance, however, has helped fund nearly 20% fewer purchases than in 2018, a symptom of a general reduction in transactions across the whole market. Those who have been helped have enjoyed an increase in lending – the average contribution this year is £24,100 up from £18,000 last year2, a rise of over £6,000 which is double the average UK house price increase to March, possibly reflecting the choice of a house rather than a flat as a first home.

The Bank of Mum and Dad is set to lend £6.3bn this year, up from £5.7bn in 2018, making it the 11th largest mortgage lender in the UK and it has supported nearly 20% of transactions in the UK mortgage market over this period.

This funding is set to become the norm with 35% of prospective buyers who are planning to purchase a home in the next five years expecting to rely on financial support from their family.

2Legal and General, June 2019


Environmentally friendly mortgage loans are set to increase as the government pledges £5m as part of its Green Finance Strategy. Money from the Green Home Finance Innovation Fund is to help the financial services industry offer more green mortgages. The perks of a green mortgage can include a cut in the rate for customers who upgrade the energy rating on their home.


An increase in the average price of houses across England, contrasted with a fall of 2.7% in flats and maisonettes, has been revealed by recent statistics from the Land Registry. Reasons include a distrust of leasehold properties, making first-time buyers prefer to rent a leasehold apartment, while saving a larger deposit and making a freehold house their first purchase.


With fast broadband now considered a necessity rather than a luxury, slow internet connection can cut a significant amount off the value of a home. Some buyers rate broadband speed to be as important as local schools and transport links and not necessarily just because of working from home. Day-to-day web activities are all making fast connection a requirement for a house purchase to proceed.

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.