Nationwide report: 54% of parents return rent to help children save for house deposits

Data from Nationwide Building Society reveals that 54% of parents who charge their adult children rent are returning some or all of those payments to help them save for a house deposit. On average, parents charge £303 per month, which equates to more than £3,600 annually.

Research indicates that 34% of adult children live at home specifically to save for a deposit, while 40% remain because they cannot afford to move out. To provide flexibility, 45% of parents waived rent once in the previous year, and 52% did so between two and six times.

Regional variations were noted, with average monthly rent reaching £415 in Greater London and falling to £187 in Yorkshire and the Humber. The financial arrangements can be difficult, as 50% of parents reported that these arrangements have caused tension or disagreements. Additionally, 61% of parents have raised the rent they charge their children.