British parents are assisting their adult children with property investment, according to new research.

Abbey Mortgages reveals that a collective £27 billion has been given to UK offspring by their mothers and fathers keen to assist their property investment ambitions.

The average loan offered to sons and daughters for the purchase of property is £19,619, with one-in-seven first-time buyers given money from their parents for their first home and one-in-16 offered a loan for this purpose, the report shows.

Nici Audhlam-Gardiner, head of Abbey Mortgages, observes that it is understandable that parents want to share in their family's property journey.

"Because house prices have increased so much over the past few years, buying that first home is also a bigger and more daunting investment than it was for the previous generation so guidance is undoubtedly needed," she says.

The study is released after Scottish Widows research found that more than a third of parents who had given a loan to their children intended to use these funds for their retirement.
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