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

Estate Agent Talk

International buyer slowdown one of Prime London’s biggest challenges

The latest survey of UK prime residential agents by AgentWise has found that many believe a slowdown in international buyer activity to be one of the biggest challenges facing the market today, whilst many have also noted an increase in the number of clients looking to explore property opportunities overseas rather than the UK. AgentWise…
Read More →
Breaking News

Housing market hit by £21m increase in fall-through bill

The latest Fall-Through Index by the House Buyer Bureau reveals that the number of property fall-throughs across the UK increased by 9.8% during the first quarter of 2026, resulting in an additional £20.9m in costs to the housing market compared to the previous quarter. House Buyer Bureau analysed the latest data from TwentyCi on the estimated…
Read More →
Breaking News

Is UK Construction Stuck in a Rut?

Glenigan data for Q.2 shows construction performance weakening further, dashing hopes of recovery in H.2 2026   The value of underlying work starting on-site during the past three months declined 15% and fell 38% below last year’s levels. Residential construction starts fell sharply, dropping 31% against the preceding three months and plummeting 52% compared with…
Read More →
Breaking News

Home sellers have a 24-hour patience threshold

Survey shows that the age of instant communication has reached estate agencies New research from Street Group suggests Britain’s home sellers have developed a “24-hour patience threshold”, with the vast majority expecting estate agents to respond, provide updates or take action within a day at virtually every stage of the sales process. The survey of…
Read More →
Breaking News

Lloyds House Price Index for June 2026 – Thoughts from the Industry

The latest Lloyds House Price Index for June 2026 shows that: House prices increased by +0.2% between May 2026 and June 2026. Annual house price growth increased slightly to +0.6% in June 2026, up from +0.5% in May 2026. The average UK house price now stands at £299,330.   Thoughts from the Industry   Nathan…
Read More →
Breaking News

House prices edge up in June as borrowing costs start to ease

• House prices rose +0.2% in June, following a -0.2% fall in May • Average property price now £299,330 compared with £298,812 in May • Annual growth up slightly to +0.6%, from +0.5% in May • Northern Ireland continues to record the UK’s strongest annual growth at +7.4%   Nations and regions house prices Northern…
Read More →