Forget the Bank of Mum & Dad: first-time buyers are increasingly turning to grandparents for help on to the property ladder.

Research from Santander Mortgages found that 8% of first-time buyers now rely on the Bank of Gran and Grandad to help with a deposit, a four-fold increase compared with five years ago.

Of those currently looking to buy, 32% told the bank they would use a family loan to help with the deposit, up from the 13% of current home owners who asked for financial help from their families.

The bank’s study, which took a snapshot of first-time buyer attitudes towards the property market, revealed that this cohort estimate their deposit will be, on average, 32% of their salary. However, one in five expects to pay more than half of their annual income on their deposit.

In comparison, current home owners estimated that when they bought their first home, their deposit was an average of 20% of their yearly income, with only 5% of them spending more than half of their salary on a deposit.

Despite the extra help from family members, first-time buyers saving for a deposit expect to do so for an average of five years, a year longer than those who bought their first property five years ago.

Miguel Sard, managing director of mortgages for Santander UK, said: “Despite having to use alternative income streams over and above their salary – such as relying on the Bank of Gran and Grandad – today’s first-time buyers are demonstrating resilience and determination to achieve their home ownership goals.

“The purchase of a first property still remains high on the priority list for many people across the UK and it’s encouraging to see so many first-time buyers feeling positive about the year ahead.

“We know many people like to shop around for the best deals online and it should be no different when looking for a mortgage. With our online mortgage application we are making things as easy as possible for our customers, helping them find the deal best to meet their needs, at a time and place that suits them.”