Fewer first-time buyers rely on bank of mum and dad to get on the property ladder

• First-time buyers receiving a gift as part of their deposit has dropped by 4% in a year.
• There’s now only one region left where average first-time buyers are in their 20's.
• The average age of first-time buyers is up from 31 to 32 in a year, while the average mortgage term has reduced from 32 to 31 years over the same period. 
• TSB reveals regional map of first-time buyers with most completions in the South East and London, followed by the North West.

New data from TSB has revealed that fewer first-time buyers are reliant on gifts from family and friends to put towards a deposit on their first home[1].

First-time buyers who received money from a friend or family member changed marginally from just over a third (34%) in Q1 2024 to just under a third (30%) in Q1 2025.

Ahead of the stamp duty changes that came into effect on 1 April, first-time buyers accounted for 32% of all mortgage completions in Q1 2025, up from 29% in Q1 2024. Across the UK, TSB saw most first-time buyers in the South East (17%) and London (17%), followed by the North West (12%) and Scotland (10%). London saw the largest increase in completions for first-time buyers, up 5%, followed by Wales and Yorkshire and Humber, both up 1%.

Yorkshire and Humber is now the only region where first-time buyers have an average age in their 20’s (29), with all other regions in their 30’s. It’s also the only region where the average age of first-time buyers has decreased year-on-year.

East Midlands and London are the oldest first-time buyers, with an average age of 33. The average age increased most in the East Midlands (from 30 to 33) and East Anglia (from 29 to 32).

Reflecting lower rates in the market, TSB found first-time buyers are now taking out slightly shorter mortgage terms – down from 32 to 31 years in a year.

TSB continues to meet the needs of more customers with over 28,000 video banking appointments for mortgages taking place in 2024, and over a third (35%) taking place out of hours so first-time buyers can take out a mortgage at a time and place that is convenient for them[2].

Craig Calder, Secured Lending Director at TSB, said:

“Many first-time buyers are continuing to rely on the bank of mum and dad to put down a deposit on their first home. But while it’s taking them slightly longer to get on the property ladder, they’re taking shorter repayment terms when they do.

“In a competitive mortgage market, first-time buyers should monitor rates and speak to their bank or broker to find the best deal to help them buy their dream home.”

–  ENDS –

Notes to editors

• [1] TSB data on first-time buyers includes 1 January – 31 March 2024 and 1 January – 31 March 2025.
• [2] TSB data on video banking includes 1 January – 31 December 2024.
• TSB was recognised as a 5-Star Mortgage Provider at the 2024 Financial Adviser Service Awards for the fifth year running.
• TSB also won the 2024 What Mortgage Awards for Best Direct Lender for the fourth year in a row and Best Fixed-Rate Lender for the fifth year in a row.

FTB = first-time buyers