My parents gave me a £50,000 house deposit – now they want it back

Giles believed the money was a gift (Picture: Getty Images/PhotoAlto)

The plight of the would-be first-time buyer is well known in the UK, with the Bank of Mum and Dad now involved in roughly half of all starter home purchases.

But despite the sums often involved, very few families put the terms of giving or lending that money in writing.

This week’s Money Problem is from environmental consultant Giles, 39, from Surrey, whose parents stumped up £50,000 to help him and his girlfriend buy a home together.

Now they’ve split up however, his mum and dad want ...