First-time buyers are taking it for granted that parents will help them out with their first mortgage, a new study suggests.

Almost a quarter (23 per cent) of the first-time buyers surveyed by Abbey said that they expected their parents to give or loan them money for a housing deposit.

Around 12 per cent of first-time buyers said they expected parents to act as a guarantor on their mortgage, while 13 per cent said they thought parents would pay for furniture or white goods such as washing machines and refrigerators.

With house prices rising, many first-time buyers were determined to save as much money as possible before buying a property, with 40 per cent moving in with mum and dad to save on rent and other costs beforehand.

Abbey's head of mortgages, Jeff Scott said: "Many first-time buyers need a significant leg-up from parents to have a realistic chance of getting on the property ladder.

"It is commonplace for parents to take their children back into the family home so that they can save for a deposit, as well as helping them out with cash gifts or loans."

However, many first-time buyers were willing to reward their parents for help with the mortgage, with 24 per cent saying they would be carrying out odd jobs when their parents retired and 11 per cent saying that they would allow parents to move in with them when they retired.

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