So the Millennials (I have to say I hate the generic term, people are not flocks of sheep) think that inheritance is their way onto the property ladder.
Sorry to wipe this misnomer away from the 'snowflakes' but, given I see a lot of residential transactions, very few are funded from inheritance. Yes, a lot receive monies from the "bank of mum and dad" but few inherit huge sums to allow them to buy their own property.
In my humble and expert opinion, if you want something to happen you have to make it happen yourself rather than waiting for someone else to do it for you - or in this case - die. First time buyers have never had it so good.
Help to Buy, Help to Buy ISA's, Lifetime ISA's, Armed Forces Help to Buy and Shared ownership are but a few of the schemes open to people to help them buy their own home. My message to the Millennials is simple, don't wait just do.
And when you do, don't forget to contact us at Dutton Gregory for your legal work.
Some millennials have unrealistic expectations of inheritance and how it may unlock the door to buying a first home, a survey suggests. One in seven young adults expect to inherit money before they are 35, although in reality the typical inheritance age is between 55 and 64. The survey, by wealth manager Charles Stanley, suggested that young people expected to receive nearly £130,000. However, the median average amount handed down was only £11,000. Advisers said that relying on an inheritance to pay a deposit for a first home was often misguided, even if older family members intended to pass on money when they died.