The £8.3 billion Bank of Mum and Dad

New research reveals that more than half of first-time buyers received financial help from family members to purchase a home, with gifts totaling £8.3 billion in 2025.

While roughly three in five first-time buyers used their own savings for a house deposit last year, some 53 per cent were helped by their family to fund their deposit.

Twice as many buyers received an outright gift from their family compared to those who received a family loan.

More than half of those receiving gifts got them from other family members, not just parents, the Savills data reveals.

Higher Mortgage Rates Stretch Affordability

Lucian Cook, head of residential research at Savills, said: 'First-time buyers continue to feel the impact of higher mortgage rates , which have stretched affordability and kept the average deposit high and maintained a reliance on the so-called Bank of Mum and Dad.'

While first-time buyer activity held up better than expected in the early part of the year, the outlook remains challenging in the current interest rate environment.

Less stringent mortgage regulation and gradual easing of rates over time should help to broaden access to home ownerrship to a degree.

Generational Divide in First-Time Buyer Support

The Savills research shows 63 per cent of those aged 20-24 receive some form of assistance, falling to 44 per cent of buyers aged 45 and over.

This suggests a generational divide in first-time buyer support, with younger buyers relying more heavily on family wealth to get onto the property ladder.

What's Next for First-Time Buyers?

As interest rates remain high, it's clear that family support will remain a crucial component of getting first-time buyers on the housing ladder.

However,the long-term imact of this reliance on family wealth is unclear, and it remains to be seen whether this trend will continue in the face of changing economic conditions.