Affordability problems for first-time buyers mean parents, grandparents and siblings are stepping in to help
The “bank of mum and dad”, where homebuyers rely on their parents to get a foot on the property ladder, has long been a key part of the UK housing market.
But continued pressure on budgets means other relatives including siblings are now being recruited to the cause, and this newly named “bank of family” is forecast to help finance a record number of house buys this year.
