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

Psaldorn , 10 months ago (edited 10 months ago)

== Edit: the below is untrue ==

In the UK you have to state where the money came from, so there’s only a limited amount your family can help.

Can’t threaten the landlords!

merridew , 10 months ago

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 , 10 months ago

Someone lied to me… thanks for the correction

merridew , 10 months ago

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