Parents are the most trusted source of guidance for first-time homebuyers, according to new research from Lloyds Bank. A study of 2,000 prospective buyers found that the “knowledge bank of mum and dad” is relied on more than mortgage brokers, estate agents, or lenders.

A third (34%) of respondents say they turn to their parents first, compared with 29% for mortgage brokers, 28% for estate agents, and 19% for lenders. Among 18–24-year-olds, nearly half (46%) seek parental advice.

Social media is also playing a growing role. TikTok is used by 31% of 18–24-year-olds for homebuying tips, while YouTube is popular with 23% of all age groups. Men are more likely to use YouTube (33%) and women TikTok (22%). However, 31% of respondents said they don’t trust any social platform for guidance.

Family support extends beyond advice. Around 25% of first-time buyers receive financial help from parents, rising to 43% when wider family contributions are included, compared with just 13% using government schemes like Lifetime ISAs.

Despite the available guidance, only 13% of first-time buyers say they fully understand the process. Lloyds Bank offers online guides, expert-led sessions, and mortgage advice through its First Time Buyer Hub to help buyers navigate each stage with more confidence.

Ola Majekodunmi, Lloyds money specialist, 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.