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The Bank of Mum and Dad

The Bank of Mum and Dad

Helping Your Loved Ones Get on the Property Ladder

In today's challenging property market, first-time buyers are increasingly turning to the 'Bank of Mum and Dad' for financial support. Typically provided by parents or other family members, this support plays a crucial role in helping loved ones secure their dream homes more quickly. By offering financial backing through gifts, loans or guarantees, parents can significantly reduce the burden of hefty deposits and address rising house prices, which can delay getting on the ladder.

What is the Bank of Mum and Dad?

The 'Bank of Mum and Dad' refers to the financial assistance that parents provide to their children, particularly for purchasing their first home. This informal funding source has become increasingly common in the UK property market as many first-time buyers struggle to save for a deposit amidst rising property prices. The Bank of Mum and Dad essentially acts as a financial gift or loan, enabling buyers to secure a home with a bigger deposit often required by traditional lenders.

With average house prices continuing to rise, the Bank of Mum and Dad plays a significant role in today's property market. Many prospective homeowners find themselves unable to consider buying a property without parental assistance. This financial support not only helps with deposits but can also cover other costs associated with buying a home, such as legal fees and moving expenses. Parents can contribute by gifting money, providing loans or acting as guarantors on mortgages, facilitating a smoother pathway to homeownership for their children.

How Bloor Homes Can Help?

In addition to our exclusive offers, we pride ourselves on providing tailored home-buying advice and support.

Family members can offer gifts or loans to help cover the deposit

We offer other flexible purchasing options such as Assisted Move, Part Exchange and, Deposit Boost.

Advantages of Using the Bank of Mum and Dad

Many first-time buyers are turning to the Bank of Mum and Dad.

The help of your family

Family members can offer gifts or loans to help cover the deposit, reducing the burden on buyers and allowing them to secure a home sooner. This financial assistance often enables them to enter the property ladder without the lengthy saving process, which can be daunting or impossible for many, especially if paying an expensive rent.

First Time Buyers We Are Here To Help

Customer stories

Happy homeowners

  • A smiling couple in hard hats and safety vests pose for a selfie in front of a new brick house under construction.
    Lo and Anna

    First Time Buyers

  • Adele and Tom

    First Time Buyers

A smiling couple in hard hats and safety vests pose for a selfie in front of a new brick house under construction.A happy couple embraces on the paved walkway in front of their new red brick house, with a clear blue sky overhead and other houses visible in the background.

"Honestly, the main thing we noticed (which we really did not get from the previous builder) was the strong communication and customer service! It was top notch."

Lo and Anna - First Time Buyers

Meet first time buyers, Lo and Anna - their first home journey didn't begin with Bloor, but we were happy to become their Plan B.

Read Lo and Anna's full story

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