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How much did your parents give you for a deposit?

358 replies

littlepieces · 20/06/2022 15:09

If you've bought your first home in the past 10-15 years, how much did your parents or family contribute towards your deposit? (If they did). And how much was the house? In context, I'm 35, don't own a home, can't get enough deposit together, and I'm just curious. All of my friends own now (some on their 2nd or 3rd homes) because their parents helped them get on the ladder.

Ps. There's no need to comment if you're part of the 'I bought my 4 bedroom house in 1980 for £10,000 by working hard' crowd 😄I'm sure you worked hard, and that's really great, but it's not relevant to this post. Thank you!

OP posts:
Sanfranciscobabe · 12/03/2023 19:29

Bought 8 years ago for £550kish

parental contribution £0
wedding contribution also £0

startrek90 · 12/03/2023 20:07

We bought last year. Nothing from either parents...they can't afford it. My mum rents too, I am actually the first person in my family to buy, the whole thing was a foreign concept to me but we got really really really lucky.

newbie202020 · 12/03/2023 20:10

Bought in London in 2014, paid the 10% (£46k) deposit myself. No financial or other help from parents or anyone else. I was 32 and had saved the deposit by working hard as a contractor in the City.

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startrek90 · 12/03/2023 20:11

Oh, I forgot to say how much we paid and how old we were. We paid 230,000 and I was 32, DH 34.

Illumicrateme · 12/03/2023 20:38

DH and I bought our home in 2014 aged 21 with no financial help from relatives. We both worked in appallingly paid hospitality jobs, but powered through 90+ hour weeks and ate food at work. It was very much all work and no play for 3 years solid. Our bills were minimal as we were never home in our tiny 1 bed flat. We also used the help to buy scheme on a new build.

Theraffarian · 12/03/2023 20:51

Both my children bought their houses with their partners, in the south east over the last 3 years in their early 20s. We didn’t help towards the deposits directly , but didn’t charge them rent from when they started working full time on the understanding they saved extra towards their deposits.

user375242 · 15/03/2023 19:29

No money, but one parent acted as guarantor, by putting a charge on their house which meant we only needed 5% deposit at a time when all 5% deposits had suddenly disappeared (Covid).

Cornishmumofone · 15/03/2023 20:32

My parents didn't contribute. Every penny I was ever given as a present (birthdays, Christmas etc) was put into a savings account that I wasn't allowed to touch until I was ready to buy a house. I didn't receive many physical gifts, but the cash gifts were normally <£5. I also saved really hard and worked over 30 hours a week whilst at Uni. I never ate out and bought the cheapest food possible.

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