Unews World
The number of first-time buyers needing a helping hand to get on to the property ladder due to soaring prices has been revealed in a new survey.
Very few new homeowners are making the leap without support, the research by TSB shows, with 96 per cent receiving some kind of financial help for their deposit.
For over two-thirds (68 per cent), this came from parents, while just over half (57 per cent) received help from friends.
Parental support is fast becoming a mainstay of the UK’s home ownership pathway, the research also shows, as a massive 80 per cent of first-time buyers say they had to move back to their childhood home to save up for a deposit.
On average, buyers are now saving for around three years, but not without compromise in most cases. Around 38 per cent delayed major purchases to maintain funds, with a similar proportion limiting socialising and taking on a second job.
In three-quarters of cases, buyers are now also having to compromise on size to secure a home in their preferred location.
House prices in the UK continue to rise steadily after seeing a massive spike during the Covid pandemic. In April 2025, the average stood at £266,000, up from £212,000 at the same time in 2015 – a 25 per cent increase.
Craig Calder, Director of Secured Lending, TSB, said: “It’s clear that compromise is key to getting on the housing ladder in a preferred location – with most first-time buyers forgoing a dream home but feeling relieved, and more financially secure having made the move.
“Many made sacrifices to meet their deposit targets – such as moving in with parents, and taking a second job. To secure the best deal for your housing and affordability needs, do speak with a broker, or your bank.”
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The government has laid out plans to build 1.5 million new homes by 2029, but experts say more must be done to boost home ownership during this time.
First-time buyers have received a slight boost in recent weeks as changes to mortgage affordability rules have helped more get on the ladder.
New guidelines issued by the Bank of England in July mean home buyers can now benefit from more high loan-to-value mortgages, which are at or above 4.5 times the borrower’s annual earnings.
Buyer demand increased 11 per cent in July compared to a year earlier, data from property website Zoopla showed, with the Bank predicting that the new rules could help 36,000 more people to purchase their first properties.
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