‘I’m embarrassed to rely on my parents’: the downside of handouts from the ‘bank of mum and dad’

‘Even as a relatively wealthy person, I’m in danger of being priced out’: software developer Michael Robinson, 33, who moved back home to save for a deposit. Photograph: Sonja Horsman

The idea that Britain is becoming a more meritocratic society has long been a theme of Conservative leaders, from Theresa May to Liz Truss.

That claim is challenged by the growing significance of the bank of mum and dad (bomad), and the embarrassment and guilt felt by some of those who have been forced to rely on parental largesse to buy their own home.