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Siblings helping with FTB deposits



Family support has long been a crucial means for many first-time buyers (FTBs) to get a foot on the property ladder. In challenging economic conditions, research(1) has revealed that the traditional Bank of Mum and Dad (BOMAD) is being supplemented by a growing number of sibling supporters.


Family affair

While most discussion around FTBs invariably considers parental support, siblings now make up a record 11% of donations towards FTB deposits, a share that has risen from 5% just five years ago.


On average, siblings contribute £10,250 towards a deposit, making them more generous than the average gift received from grandparents (£10,000). Aunts and uncles contribute less frequently (4%) but generally give higher amounts (£15,000).

Support network

The number of FTBs drawing on family support has risen in recent years. In total, some 32% of mortgaged FTBs have been boosted by family contributions so far this year (up from 30% in 2022).


Of those who received support, some 35% were able to raise a deposit of at least 20%, twice as many as those buying without family backing. On average, a family-backed buyer paid £6,500 more than those going it alone.


Aneisha Beveridge, Head of Research at Hamptons, noted the significance of the family support, commenting, “Should interest rates stay higher for longer, it will exacerbate the gap between what those with and without family help can afford.”

BOMAD still in business

Although more siblings are chipping in, parents are still by far the main financial backers, providing 72% of family support, with grandparents comprising 8%.


Think it through

Helping a family member to get a property can be a hugely rewarding way to use your money. But for anyone considering offering support to a family member – whether that’s a sibling, child, or other relation – it is crucial to think about how the gift will affect both you and the receiver.


Some questions to ask yourself:

Can I afford it?

An obvious question – how does the gift fit into your wider financial plan?


What are the tax implications of a gift?

This is most relevant for older gift givers, most notably in relation to the ‘seven-year rule’, whereby if you die within seven years of giving the gift, it may be considered part of your estate for Inheritance Tax purposes.

A loan or a gift?

Some supporters choose a loan, not because want the money back, but because it helps retain more control. This is most relevant for FTBs buying with a partner, with a loan providing more scope to set out exactly to whom the money belongs.


Speak to us

There’s a lot to think about when gifting money towards a deposit. We’re here to talk things through and help you choose the best option for your (and your relative’s) circumstances.

Your home may be repossessed if you do not keep up repayments on your mortgage

1. Hamptons, 2023

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