One in four new UK homebuyers under 25 rely on ‘bank of mum and dad’ – study
One in four new UK homebuyers under 25 rely on ‘bank of mum and dad’ – study
Research by Bank of England economist reveals huge scale of parental support in housing market
I'm astonished it's as low as 1-in-4. Where the hell are the other 75% of under-25s who are buying houses getting the money from?
Could it be that the total number of under 25’s homeowners, is so low that the other ~75% are just rich bastards themselves?
They might also rely on other rich relatives that are not their parents.
Seems to be a paradise for young people in the UK lol
i'm really suprised too. Noone in Germany under 25 could get a loan for a house without their family assisting or a large inheritance.
I mean maybe there is some fringe cases of some remote working programmers that can afford a house in a village with the next supermarket being 20 mins by car and the next hospital being 45 mins.
All of my friends except one (so 3 out of 4) that bought a house had to rely on mum and dad.
Under 25 😅
When my last parent dies, almost half of their property value goes to tax, the rest I'd split with siblings and I'll maybe get close to being able to consider buying my own place
When my last parent dies, almost half of their property value goes to tax, the rest I'd split with siblings
Where do you live of I may ask? In Germany, even assuming a laughably expensive property worth 2 million EUR and without any tax optimizations, with 2 siblings you'd have to pay a bit below 30k EUR in taxes and receive property worth 667k EUR per child. If you got the property worth 2 million only yourself, you'd have to pay around 300k in taxes max.