In the past year 26% of 18 to 44-year-olds have had parental help with a housing deposit and 13% received a rent or mortgage contribution – but even more have received financial help in terms of increasing their own savings.
The Bank of Mum and Dad has continued to help first-time buyers get onto the property ladder, the Financial Insights Survey from Guarantor Loan Comparison has found.
In the past year 26% of 18 to 44-year-olds have had parental help with a housing deposit and 13% received a rent or mortgage contribution – but even more have received financial help in terms of increasing their own savings.
Over the past year, 39% of parents with children over 18 have allowed them to live at home without paying any rent.
Although most of these are under 20, 5% of 25 to 30-year-olds are still living in the family home, rent-free. With no housing costs or bills to pay, this means they can start saving to buy a property.
