The Bank of Mum and Dad
Help them step on to the property ladder
Getting on the property ladder has become increasingly difficult for first-time buyers. With rents having grown 21% over the past three years, mortgage rates now averaging between 4-5% and the general high levels of deposit required when buying outright, it’s no surprise that more than half of first-time buyers received financial help from their family last year.
Shared Ownership is helping an increasing number of people across the UK to get a home of their own in a more affordable way, however there is still a lot of confusion around what Shared Ownership is and how it works.
That’s why we want to provide clear and transparent information around how Shared Ownership could help someone you know to get a home of their own, and how you may be able help in the process.
52%
Over half of first-time buyers received assistance in purchasing their home in 2024.
Source: Savills
£38.5 bn
Over the past four years, £38.5bn has been provided by the Bank of Mum & Dad.
Source: Savills
+21%
Over the past three years, rents have grown 21%.
Source: Zoopla
£68,154
In 2025, the average first-time buyer deposit in England is currently £68,154 when buying outright.
Source: Unbiased
Shared Ownership explained
Shared Ownership is a government-backed scheme which was introduced to address the shortage of affordable housing in England, and it’s designed to give first-time buyers and those that do not currently own a home the opportunity to get on a property ladder in a more affordable way.
The scheme allows buyers to purchase a share, usually between 25% and 75% initially, of a property’s full market value, while paying a reduced market rent on the remaining share. As the deposit required with Shared Ownership is typically just 5% to 10% of the share value, it means that the deposit amount needed can start from as little as a few thousand pounds.
Shared Ownership can provide a great alternative to renting privately by providing more stability to the buyer and it can often be cheaper per month than renting a similar size property in the same area.
Take a look at our guides, FAQs and more below to get started.
FAQs
Make sense of Shared Ownership by getting answers to a range of frequently asked questions.
Affordability Calculator
Get an idea of the costs involved when buying with Shared Ownership by using our interactive affordability calculator.
Customer Testimonials
Don’t just take our word from it – hear from some of our residents who share their experience of using Shared Ownership.
HOME Hub
Explore our cover-all guide, from affordability to rent, and what happens once you move in.
Frequently Asked Questions
Can I use equity from my home towards my child’s deposit?
Yes, however this is subject to having the funds available in your bank account and the equity release or remortgage having completed ahead of the point of your child’s application for the property.
Are there any restrictions around gifting a deposit with Shared Ownership?
L&G follow the same principles as mortgage lenders in respect of gifted deposits. The expectation is that the money is provided as gift (rather than a loan), you will hold no interest in the property and the money is not subject to repayment. We also recommend you receive independent advice on inheritance tax rules which may apply to your gift.
Will I own part of my child’s home if I assist with their deposit?
No. The gift will not result in you owning any share of the property. It is a gifted financial contribution only.
“We both fell in love with it. I said ‘I want one!'”
Hear from one of our residents and first-time buyer, Rebecca, and her mum, Christine, about their experience of buying with Shared Ownership with us.
