Meera Kumar, a 25-year-old junior doctor, wouldn’t have been able to get on the property ladder as young as she did if it wasn’t for the help of her father.

The Gen Z homeowner purchased a £443,500 property in Milton Keynes with a £250,000 deposit.

A small portion of that chunk of money – £26,000 – did come from her own savings, but the rest – £224,000 – was a gift from her father.

This dramatically reduced the size of her mortgage and slashed her monthly housing costs.

At a time when many young people struggle to get on the property ladder, Meera acknowledges she is “incredibly fortunate” and says she would likely have faced another five to 10 years of saving without the so-called Bank of Mum and Dad.

Explaining how she built her deposit, she said: “I’ve always been quite disciplined when it comes to saving and made a habit of putting side any money I had left at the end of each month.

“I personally contributed around £26,000 towards the deposit, which included £16,000 that I’d built up through my lifetime ISA with the government’s bonus.

“The remaining £224,000 was a gift from my father, and I’m incredibly grateful for his support because it made buying much sooner possible.

“I’d been saving for several years while studying and then working as a junior doctor, but without that family support I certainly wouldn’t have been able to put down such a substantial deposit.”

Her own contribution accounted for just over 10 per cent of the overall deposit, while her father’s gift made up almost 90 per cent, allowing her to borrow significantly less than many first-time buyers purchasing a similar home.

The sizeable deposit also helped her secure a two-year fixed-rate mortgage at 3.75 per cent, keeping repayments at around £600 a month.

That represents a huge reduction in her previous housing costs while renting in Oxford, where she spent around £1,200 every month on rent and bills.

More than half of first-time buyers received financial help from family members to enable them to get onto the property ladder, according to Savills.

While roughly three in five first-time buyers used their own savings for a house deposit last year, some 53 per cent were helped by their family to fund their deposit.

In total, the gifts valued £8.3bn in 2025. When inheritance is included, family members gifted £11bn to first-time buyers, showing the reliance on family wealth to purchase property.

She said: “The difference has been huge. It’s reassuring knowing that money is going towards a home I own rather than towards a landlord.

“Having lower monthly housing costs also gives me greater financial flexibility and peace of mind, especially at this stage in my career.”

The lower monthly payments have also been made possible because of the much smaller mortgage required after such a large upfront deposit.

She said: “I always wanted to own my own home, but I knew it would take much longer without my dad’s support.

“As a junior doctor, I was able to save consistently, but property prices have increased so much that building a large enough deposit on my own would have taken many more years.

“Realistically, I think it could have been another five to ten years before I was in a similar position. I’m very aware that not everyone has access to family support, so I feel incredibly fortunate.”

Her experience contrasts sharply with that of many first-time buyers, who often spend years building relatively modest deposits while continuing to pay rising rents.

Her profession also shaped where she decided to buy. As a junior doctor, she expects to relocate between hospitals during her training, making transport links a key consideration when choosing a home.

She explained: “My career means I have to be flexible, so location was one of the biggest considerations when buying.

“Milton Keynes is really well connected, whether that’s travelling to London in around 35 minutes by train or driving via the M1 and M25. It gives me flexibility if my job takes me elsewhere while also allowing me to stay close to my family.

“I also saw it as a smart long-term investment because of the continued growth and development planned for the area.”

She ended up buying a three-bed, two-bath property at Dandara development, The Acres.

Alongside family support, she also credits the government’s lifetime ISA with helping boost her savings.

The scheme allows eligible first-time buyers to save up to £4,000 each year, with the government adding a 25 per cent bonus, up to a maximum of £1,000 annually.

She said: “The lifetime ISA was definitely worthwhile because every government bonus helped me get closer to my goal.

“My advice would be to open one as early as possible, even if you can only save a small amount to begin with, because those bonuses really do add up over time.

“I do think more support is needed for first-time buyers though. House prices and living costs have made saving much harder than it used to be, so schemes that genuinely help people build a deposit are incredibly valuable.”

She was also able to accelerate her savings by temporarily moving back in with her parents before moving into her new home, avoiding the higher housing costs she had faced while renting.

Kumar explained: “Moving back home definitely helped me save more quickly because I wasn’t paying the same level of housing costs that I had while renting.

“I also tried to be sensible with my spending and continued putting aside as much as I could each month rather than increasing my lifestyle.

“I appreciate that not everyone has the option of moving back in with their parents, so it did give me an advantage.”

“For those who don’t have family support, I’d say focus on what you can control – building your savings consistently, researching the help that’s available, and choosing a location that offers good long-term value rather than feeling you have to buy in your dream location straight away.”