ABSTRACT
Turning to the UK, this chapter presents recent data on the changing role of family support for homeownership, particularly for a growing share on the ‘edges of homeownership’. New survey findings are presented on the extent of, and attitudes towards, family support in relation to housing. Comparisons with previous studies provide a look at crucial changes over time. Younger generations, facing difficulties in gaining a foot on the housing ladder, are increasingly turning to the ‘Bank of Mum and Dad’ (or indeed of grandparents). Intra-family support is not limited to help with becoming a homeowner but is increasingly crucial towards remaining in owner-occupation through financial transfers for mortgage payments or in reducing mortgage arrears. In the event of an exit from homeownership due to relationship change or financial difficulties, families again play a key role through free or cheap accommodation. Family support for rent payments may further be seen as a strategy for a future entry or return to owner-occupation.
