Children typically given £11k by parents to help with home purchase
The financial support handed out by parents was typically £11,241, according the savings app Spring.
One in four children who receive help from their parents to buy a home were handed more than £10,000, a survey has suggested.
A total of 2,001 adults were surveyed, with a quarter saying they received financial help from the so-called Bank of Mum and Dad.
Typically, the financial support provided was £11,241, according to the survey by the savings app Spring.
Parental assistance
While a third received between £1,000 and £4,999, 18% they were given between £5,000 and £9,999, according to the savings figures reported in ThisIsMoney.
Around 16% said they received between £10,000 and £24,999, while almost 9% received between £30,000 and £50,000.
Around 0.3% said they received £50,000 or more from their parents.
Derek Sprawling, head of money at Spring, said: ‘Many people associate the Bank of Mum and Dad with helping younger family members onto the property ladder, but these findings show the scale of support being provided can be significant.
‘For those fortunate enough to receive financial help, it can accelerate progress towards major life goals such as buying a home or building financial stability.’
These findings show the scale of support being provided can be significant.”
It follows research by Savills earlier this summer that suggested more than half of first-time buyers rely on BoMaD.
While more than three out of five first-time buyers – 64% – draw on their own savings, more than half – at 53% – rely on support from family through gifts, loans, or inheritance.
Overall, gifts and loans from family members totalled £8.3billion in 2025, rising to £11billion when inheritance is included.
