Notices
  • Savings products - In preparation of the launch of our new and improved Online Service we have temporarily withdrawn online applications for all our savings products. You can still apply for these products by post or in branch. All savings products will be available to apply online from 12 May. We apologise for any inconvenience this may cause.

  • We’ll shortly be making some changes to our Online Service to make it simpler and easier for you to use.  

    Our new Online Service will have a modern design, improved navigation and many added benefits.  

    Find out more about the changes

  • Mortgage products - On Wednesday 23 April, we made changes to our mortgage product range. These include rate adjustments across our fixed rate products, and an increase to our Owner Occupier Joint Borrower Sole Proprietor maximum LTV to up to 90% (with no additional security required) for loans up to £500,000.
  • Online Service update. Due to planned essential maintenance our Online Service will be unavailable from 6pm until 12am on Wednesday 7 May. Our Online Service will also be unavailable between 5.30pm on Friday 9 May until 9am on Monday 12 May. We apologise for any inconvenience this may cause.


Our Intergenerational Wealth Transfer Research

How are gifts and inheritances affecting UK families?


Read about our research into how intergenerational wealth transfers are affecting UK families.

We investigated who has the ability and desire to help family and the implications for those who can’t.

Transfers of gifts and inheritances have become a major feature of UK economic life and this is set to increase in the future. These transfers have major impacts on both the gifter and the recipient in terms of how they live their lives and the opportunities available to them. 

Intergenerational report cover

What we found out

The report provided interesting insight into the effects and behaviours intergenerational gifting is having on people and the economy, such as:

  • Low interest rates and demographic changes has driven the rise in the size of wealth holdings.
  • Since the 1980's wealth relative to the size of the economy has more than doubled.
  • More people are planning to give an inheritance or gift to another generation than are expecting to receive one.
  • The vast majority of people planning to gift or pass on inheritance own their house either though a mortgage or outright (74%) whilst only 8% of renter expect to gift or pass on inheritance.
  • As it is increasingly harder for first time buyers to get on the property ladder, it comes as no surprise that gifters was to help their children / grandchildren buy their first home. 33% of people surveyed said this was the biggest reason for gifting and/or giving an inheritance.

To find out more on the research conducted, download a copy of the full report here.

You can also watch the webinar discussing the key findings of the report here.

Download the report

Research report conducted on how wealth transfers have had a major impact on how people live their lives and the opportunities available to them.

Watch the webinar

Watch the recorded webinar with Resolution Foundation and Family Building Society which discusses the key findings of the report.