It’s often quoted that the Bank of Family is one the top 10 lenders in the UK. Almost half of transactions by those aged under 35 received financial help when purchasing a house, with Bank of Family gifts reaching £9.2million in 2024 (L&G). We’re seeing a growing demand for family assistance. House prices have outpaced wages for decades and would-be borrowers have struggled for save for a deposit with high rents and living costs. The market has long been underserved by lenders with a lack of low deposit mortgages. The availability of family assistance through gifting alone can create inequality. Those receiving assistance when buying a house are typically younger than those without support (average age of just over 30 vs an average age of 32), and are able to purchase higher-priced properties, thanks to larger deposits facilitated by family support (UK Finance). We know there is a need for those potential buyers who need financial help but don’t have family members able to gift large amounts. Creative solutions are needed by lenders to help not just first-time buyers but those looking to take their next step up the housing ladder.