New figures show parents fork out on average more than £17,000 to help their children fly the nest.

Almost half (46 per cent) of all mums and dads feel responsible for helping their children onto the property ladder, according to Alliance & Leicester Mortgages research.

Families provide around £17,677 to help their offspring cut the parental purse strings, the equivalent of paying the deposit of an average first time buyer property and £4,000 more than their children's expectations.

One in six parents are prepared to give or lend their offspring more than £30,000 to cover what is seen as their last duty.

"Our research reveals that many parents are planning to support their children well past the age of 18, especially when it comes to their first home," said Stephen Leonard from A&L.

"As house prices continue to rise, it is no wonder first time buyers are looking for that bit of extra funding from their parents to get on the property ladder. This may be one of the reasons we are witnessing continuing first time buyer activity despite houses becoming more expensive."

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