More than 30 per cent of first-time buyers (FTBs) believe they will get help from their parents when they try to climb onto the first rung of the property ladder, the latest research reveals.
A study commissioned by the Council of Mortgage Lenders shows that even greater proportion (35 per cent) say that they will need help to buy their first property.
And of those who are already homeowners, 23 per cent say that their parents helped them make their first move, while 39 per cent of those under the age of 30 said that they had received some financial aid from their parents.
Around 40 per cent of those who have bought their first house after 2004 say that they needed to borrow or take some of their parents' money to climb onto the first rung of the ladder.
The need for parental aid is much more pronounced in London than in any other UK district - with 32 per cent of all London homeowners admitting that their parents helped them buy their first property.
"We were intrigued last year to find that, while around eight out of ten people believed it had never been harder for first-time buyers to enter the market and that action was needed, only eight per cent of them felt that parents should do more to help," CML head of research Bob Parnell commented.
"Our new research helps to explain why. Over the past few years, parents have already been providing significant help to younger home-buyers, and there is uncertainty about whether they can do even more."
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