The number of people taking out mortgages has increased for the first time in a decade, representing an increase in homeownership according to the UK government’s English Housing Survey.

This echoes research conducted by law firm Collyer Bristow, published in its Home Ownership Attitudes and Aspirations report.

Those buying properties predominantly fund them by savings (63 percent), however 32 percent are supported by the ‘Bank of Mum and Dad’.

Additionally, inheritance played a key role, with 31 percent of homeowners have inherited property or cash. While 21 percent expect to ...