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Facebook post by Anglia Ruskin University

Reliance on bank of ‘mum and dad’ hits historic high, with #homeownership falling by more than half as over a third of first time home buyers rely on parental gifts or loans. The proportion of first time buyers are now relying on inherited wealth or loans from the bank of ‘mum and dad’ has reached an historic high and the trend looks set to continue, new research by the Social Mobility Commission has revealed. The Commission warns that the increasing trend will have damaging consequences for social mobility as young people on lower incomes are finding it almost impossible to get a foot on the housing ladder. #SocialMobility
Reliance on bank of ‘mum and dad’ hits historic high - Anglia Ruskin University anglia.ac.uk

Over a third of first time buyers rely on parental gifts or loans