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Welcome to the ‘nepo’ housing market: 40% of homebuyers under 30 get family money to cover their down payment (archive.ph)

submitted 1 year ago* (last edited 1 year ago) by Blaze@discuss.tchncs.de to c/personalfinance@lemmy.ml

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Definitely a trend I see around me (Europe, 30 years old).

All of my friends able to buy got at least 30k - 50k from their parents.

Is it the same around you? How do you deal with this?

Also, some data from a few days back:

omg

https://discuss.tchncs.de/post/2426785?scrollToComments=true

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[–] merridew 5 points 1 year ago (1 children)

What? There is no limit on the size of funds that can be gifted to help buy a house in the UK. If your family wants to bung you £500k of their own money there's nothing stopping them.

The requirement to demonstrate proof of funds for that money is to prevent money laundering.

[–] Psaldorn@lemmy.world 2 points 1 year ago (1 children)

Someone lied to me.. thanks for the correction

[–] merridew 2 points 1 year ago

No problem. There's a lot of confusing stuff surrounding homebuying.