More Second Steppers require financial support from Family and Friends according to Lloyds Bank

July 4, 2018

Many homeowners ready to take their second step on the property ladder now rely on financial help from family and friends to help make the jump from their first home, according to the latest Lloyds Bank Second Steppers report.

More Second Steppers are having to borrow from family and friends to trade up the property ladder, with one third (33%, up from 27% last year) saying that they require financial support from their mum and dad, grandparents or friends.

Andrew Mason, mortgage products director at Lloyds Bank, said:

“Support from generous family and friends remains vital in helping Second Steppers in taking the next step on the property ladder, despite more Second Steppers now feeling optimistic about the housing market.

“We continue to see parents make big sacrifices as their children return for help with housing for a second time. However, to ease the burden on parents, we are seeing more Second Steppers plan ahead for their next big move by saving and paying more to their mortgage.”

Read the latest Lloyds Bank Second Steppers report in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Are landlord repossessions set to spike ahead of RRA?

Calm before the storm? Landlord repossessions fell in 2025, but they could now spike ahead of the Renters’ Rights Act New analysis from Inventory Base reveals that the number of landlord possessions fell by almost -8% in 2025, but does the introduction of the Renters’ Rights Act mean that numbers are set to spike in…
Read More →
Breaking News

Breaking Property News 23/2/26

Daily bite-sized proptech and property news in partnership with Proptech-X. RO sees large ROI with CRE atford site sale Sale of 56 Clarendon Road Watford by RO Group to Strides Pharma UK RO Group is pleased to announce the successful sale of 56 Clarendon Road, Watford to Strides Pharma UK, the UK arm of global pharmaceutical…
Read More →
Breaking News

Volume doubles as property market sees strong return of new applicants

Foxtons Lettings Market Index – January 2026 Demand rebounded sharply from December, with registrations up 93% month on month and new renters per instruction up 11% compared to December, reflecting a seasonal uplift in activity at the start of the year. New renters per new instruction fell 12% year on year, indicating that competitive pressure…
Read More →
Rightmove logo
Breaking News

Property valuation leads to agents up 50% on last year

The launch of a new valuation product and AI optimisations to the existing product suite led to a significant uplift in valuation leads for agents from Rightmove in January. Valuation leads grew by 50% in January 2026 compared to the same period last year. The launch of Online Agent Valuation towards the end of 2025 helps connect…
Read More →
Breaking News

Worst areas for landlord eviction waiting times

The latest research industry insight from LegalforLandlords has highlighted where the longest and shortest wait times are when it comes to court hearing dates for landlords who are trying to repossess their properties, with the most overstretched courts found in the likes of Birmingham, Croydon, and Slough. Having analysed internal data on wait times for…
Read More →
Breaking News

726,000 rented homes could remain non-decent by 2035

And that’s without holding them to the updated standard outlined in the recent DHS consultation A new consultation on the Decent Homes Standard (DHS) has suggested that all rented homes, private and social, must meet an updated, more stringent standard by 2035. However, new research from Inventory Base reveals that if the current rate of…
Read More →