Housing

Can product innovation to help younger people onto the property ladder?

Charlotte Bell

Charlotte Bell

The challenges facing young people wanting to get on the housing ladder are well known and widely debated. Housing interventions by successive governments have increased in pace and scope over recent years, but we still seem to be only scratching the surface of the affordability issue. 

The Bank of Mum and Dad – now a top 10 unofficial UK 'lender' – is already playing a positive role. How we promote and broaden its contribution in future years will be key to sustaining a healthy housing market.

The BSA commissioned two people well-known in the mortgage industry – Bob Pannell, former Chief Economist at the Council of Mortgage Lenders, and recently retired Bath Building Society CEO, Dick Jenkins – to take an independent look at the issue of intergenerational inequality. Their report, launched in the House of Lords in November 2018, aims to spark product innovation to help younger people onto the property ladder, with a little help from parents or grandparents.

Intergenerational mortgages: Building on the Bank of Mum and Dad