Research from Lloyds found that parents are the most trusted source of information for those taking their first step onto the property ladder.

The study of 2,000 prospective first-time buyers has revealed the ‘knowledge bank of mum and dad’ now ranks above mortgage brokers, estate agents and even lenders when it comes to navigating the homebuying process.

A third (34%) of prospective buyers say their parents are their first port of call for advice – ahead of mortgage brokers (29%), estate agents (28%) and lenders (19%). Among 18–24-year-olds, almost half (46%) lean on parental guidance.

TikTok is also becoming a go‑to source of information for the youngest buyers, with three in ten (31%) 18–24‑year‑olds using the platform for homebuying insights. YouTube is also popular, used by nearly a quarter (23%) across all ages. Men are more likely to favour YouTube (33%), while women prefer TikTok (22%).

Still, almost a third (31%) of all respondents say they don’t trust any social platform for homebuying guidance – suggesting that while social media plays a role, uncertainty remains.

Ola Majekodunmi, Lloyds money expert, said: “Parents are often a huge source of reassurance – emotionally, practically and sometimes financially. But getting on the ladder can be complex, and it’s important to seek professional advice from home-buying experts too.

“We encourage first-time buyers to combine family wisdom with expert guidance. Our online tools, mortgage advisers and products, such as low-deposit and ‘Lend a Hand’ mortgages, are all designed to help people make informed decisions with confidence.”