More than half of UK parents channel adult children's rent into deposit savings

Saving for a first‑time buyer deposit can feel like an endless marathon, especially when rent is being paid into the same household each month. A recent Standard.co.uk survey found that 54 percent of parents who receive rent from their adult children choose to put that money towards the child’s house deposit.

Given the high cost of homes, many families see the rent as an opportunity to add to the deposit fund, helping to shorten the time needed to save the required amount. By returning the rent, parents can turn a regular payment into an additional contribution to the savings plan.

For families using this approach, it is important to formalise the arrangement with a written agreement that sets out how much will be saved and over what period. Clear documentation helps avoid misunderstandings and provides a record that may be useful when the child applies for a mortgage.