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More than half of first-time homebuyers got a financial boost from their families last year, with the average support from the “Bank of Mum and Dad” coming in at around £55,500, according to Savills. With rising mortgage rates and soaring rents in 2024, it’s no surprise many young buyers turned to loved ones for help. The recent stamp duty changes also sparked a surge in purchases before the March deadline—leaving those who missed it facing even higher costs.

Have you had to borrow from your parents to get on the property ladder—or are you considering it?

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