Help from parents with first-home deposits quadruples in 50 years

With house prices increasing by 4,300 per cent over the last 40 years and the average income needed to buy a first home doubling to £40,000 since 1997, hopes of owning a property may have been dashed for some. Nevertheless, research by TopCashback released today reveals that despite this, a significant number of Brits are making the attempt.

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Buying a property in numbers infographic

London (PRWEB UK) 3 June 2014

The figures state that 65 per cent of over 18’s are currently saving for a house deposit and, of these, the majority are putting away more than £351 each month. However, despite their saving efforts 58 per cent of Brits still expect they will need help from their parents to raise a full deposit for a property.

Other key findings revealed that:

  •     More than two-thirds of Brits are hoping to buy a property in the future.
  •     London homeowners have received the most help with deposit funds from parents.
  •     The majority of Brits not expecting to buy a property stated the main reason was that they don’t see themselves being able to raise a deposit.

The full set of statistics is displayed in the Buying a property…in numbers infographic.

  •     ENDS    -

Notes to Editors

Results based on a survey of 1,663 respondents
Case studies are available upon request.

Media contact

For information about TopCashback.co.uk, consumer-spending insight and access to hundreds of consumer case studies, please contact press(at)topcashback(dot)co.uk or call Lindsey Casey, Francesca Williamson or Anna Hammond on 020 3489 6464.

About TopCashback (http://www.topcashback.co.uk)

TopCashback.co.uk, the UK's most generous cashback site, passes up to 105% of the commission rate that retailers pay it - to advertise their products and services – back to its members. The site has more than 3.5 million members, which is more than double the amount of members in the last two years alone.

TopCashback includes more than 4,000 merchants, from high street big names to smaller, niche online sellers. £3.1 million cashback is earned by TopCashback’s members each month, with £600 million worth of transactions passing through it each year. Consumers effectively get, on average, a 7% discount on each transaction they make simply by clicking through to their chosen retailer via TopCashback.co.uk, instead of going to the retailer’s website directly.

TopCashback also provides consumers with discount codes and vouchers, which can be used in conjunction with earning cashback. In 2012 it launched seven product-comparison tools, covering credit cards and insurance policies, which uniquely find the cheapest, and most appropriate, products for consumers’ needs while paying the commission rate to the individual as a cashback rebate on top.

In January 2013 TopCashback was the first cashback site to provide consumers with access to money-saving services through mobile phone camera technology with its ‘Snap & Save’ service, which gives shoppers cashback on in-store purchases.

In June 2013 TopCashback launched ‘TopCashback Plus’, which enables members to get the very best, unrivalled rewards from their shopping. Plus members receive 105% cashback on all purchases and fast-track customer service in addition to a host of other features. The ‘TopCashback Classic’ free service is still available to members inclusive of all its original benefits.

TopCashback.co.uk was named Britain’s 98th fastest growing private company in The Sunday Times Virgin Fast Track 100, in December 2013. In 2012 it ranked 35th in the league and in 2011 it ranked 5th.


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