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Over half (56%) of first-time buyers aged under 35 receive financial support, averaging £19,000, from the Bank of Mum and Dad (BoMaD) to help them get onto the property ladder3. BoMaD continues to play a major part in the housing market, with 71% of BoMaD funded homeowners saying they wouldn’t have bought without financial support and instead would have delayed their home purchase plans by an average of four years.

3Legal & General, 2020