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More than half of first-time buyers relied on family to get on the property ladder last year, according to new research* from Savills. The estate agents reported the ‘Bank of Mum and Dad’ (BoMaD) contributed around £9.6bn in loans and gifts, supporting 173,500 homebuyers, worth an average of £55,572 each. Savills’ estimates are based on data covering first-time buyer numbers, loan-to-value ratios and survey responses on family support. The figures include contributions not just from parents but from grandparents and other relatives too. The report highlights the increasingly vital role that intergenerational support plays in the UK housing market. With affordability stretched in many parts of the country, access to

Many high-net-worth individuals (HNWIs) have yet to establish retirement or succession plans, even though they remain confident about the growth of their personal wealth, according to a study by BlackRock*. The global asset manager’s ninth annual Read on Retirement survey shows a third of European HNWIs are yet to make a financial plan for retirement. While those who have started a retirement plan, half said that they do not have a fully formed plan in place. And while 80% of survey respondents plan to pass wealth down to their children, only 34% have a full succession plan in place. With over three quarters (78%) of HNWIs expecting their personal wealth