{"id":2986,"date":"2024-03-08T08:30:51","date_gmt":"2024-03-08T07:30:51","guid":{"rendered":"https:\/\/pfadvisors.co.uk\/?p=2986"},"modified":"2025-04-07T13:38:18","modified_gmt":"2025-04-07T11:38:18","slug":"seek-advice-before-making-ftb-gifts","status":"publish","type":"post","link":"https:\/\/pfadvisors.co.uk\/en\/seek-advice-before-making-ftb-gifts\/","title":{"rendered":"Seek advice before making FTB gifts"},"content":{"rendered":"

Nearly one in five parents and grandparents who helped a family member buy their first home used their own property wealth to do so, new research [1] has shown, raising concerns that some might be leaving themselves short.<\/em><\/p>\n

Families help out<\/strong><\/p>\n

FTBs are increasingly relying on family members\u2019 support to get on the housing ladder. In total, 42% of parents and grandparents aged over 55 have helped fund a family member\u2019s property purchase. Parents and grandparents eager to help out are in turn using a combination of their savings (68%), investments (22%), and pension (14%) to find the funding.<\/p>\n

Many not seeking advice<\/strong><\/p>\n

The research showed that 18% have used their own home to generate the money, either through equity release, downsizing, or re-mortgaging. It also found that 72% of parents and grandparents don\u2019t seek formal advice before making gifts.<\/p>\n

Here to help<\/strong><\/p>\n

Making a gift to a family member to buy their first home can be a rewarding way to use your hard-earned money. But it\u2019s important to think about your own needs. We\u2019re here to help you make a balanced decision that\u2019s right for your unique situation.<\/p>\n

[1] L&G and CEBR, 2023<\/p>\n

\ud83d\udea8 Data accurate as of the date of publication \u2013 08.03.2024<\/p>\n

\ud83d\udea8Think carefully before securing debts against your home.\u00a0 Your home may be repossessed if you do not keep up repayments on your mortgage.<\/p>\n

\ud83d\udea8 The above material is for informational purposes only and does not constitute a sales offer or financial advice. Before taking out any insurance, credit agreement or other financial product, you should obtain individual advice on your requirements and the general terms of the contract.<\/p>\n

 <\/p>\n

Source: Quilter Financial Planning \u2013 Essentially Mortgages Q1 2024<\/p>\n","protected":false},"excerpt":{"rendered":"

Nearly one in five parents and grandparents who helped a family member buy their first home used their own property wealth to do so, new research [1] has shown, raising concerns that some might be leaving themselves short. Families help out FTBs are increasingly relying on family members\u2019 support to get on the housing ladder. […]<\/p>\n","protected":false},"author":3,"featured_media":2955,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[28],"tags":[],"class_list":["post-2986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"\nSeek advice before making FTB gifts - Prestige Financial Advisers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pfadvisors.co.uk\/en\/seek-advice-before-making-ftb-gifts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seek advice before making FTB gifts - Prestige Financial Advisers\" \/>\n<meta property=\"og:description\" content=\"Nearly one in five parents and grandparents who helped a family member buy their first home used their own property wealth to do so, new research [1] has shown, raising concerns that some might be leaving themselves short. 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