A whopping 84 per cent of first time buyers are relying on financial support from their parents, according to new research from Clydesdale and Yorkshire Banks.
The figure has more than doubled from 2005 levels, where 38 per cent had help.
Steve Reid, retail director for Clydesdale Bank, said: “It is becoming increasingly commonplace for first time buyers to require financial help from their parents when buying their first home.
“At Clydesdale and Yorkshire Banks, we recognise that first time buyers are vital to keeping the property market moving and are committed to helping them with our range of competitive products.”
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