What about a loan from the Bank of Mum and Dad?

Instead the Bank of Mum and Dad has had to be plundered to pay for the year off.

If their first job doesn't pay the bills, many can expect the Bank of Mum and Dad to cover the rent.

There may be more calls than ever this year on that more understanding institution - the Bank of Mum and Dad.

Those lucky enough to access the Bank of Mum and Dad may even be able to get a better 95pc deal with a guarantor mortgage.

There's also got to be money and for eight year olds that means the Bank of Mum and Dad.

This summer, the Daughter will be doing unpaid work experience subsidised by the Bank of Mum and Dad.

As a result, the stamp duty break will be of most use to those who can rely on the Bank of Mum and Dad.

Nor is there anything new about what is now called the Bank of Mum and Dad and the risks involved.

As a result, the Bank of Mum and Dad is funding more aspects of children's lives, and for longer.

The Bank of Mum and Dad helped pay for the guitars, stereos, books, clothes and computer games.

The Bank of Mum and Dad is the only bank still extending unlimited credit, with no bonuses for the senior staff.

Unless you're with the Bank of Mum and Dad, you are pretty much locked out of British property.

"The Bank of Mum and Dad remains an apparently important source of help for young first-time buyers.

Even professional first-time buyers in their thirties have to call on the Bank of Mum and Dad to get on the ladder.

But the report, from housing charity Shelter, raises concerns about "the increasing strain on the Bank of Mum and Dad."

"FirstBuy will do just that - a government-backed scheme making £500 million available to offer a valuable alternative to the Bank of Mum and Dad."

For thousands of kids who can’t ask the Bank of Mum and Dad to subsidise work experience this is a huge opportunity, not a cruel imposition.

Here she highlights how an inability to raise a mortgage needn’t be a barrier to investment – if you can draw on the Bank of Mum and Dad.

No wonder that the Bank of Mum and Dad is a key source of funds for 80 per cent of the few first-time buyers who are around.

Most of us know someone like Hannah: ambitious, well-qualified yet, because of the recession, unemployed and living off the Bank of Mum and Dad.

What those same owners think if their children are priced out of the market, forcing the Bank of Mum and Dad to swing into action, is another matter altogether.

The Bank of Mum and Dad will be called upon more than ever," says Adrian Anderson, a director of mortgage broker Anderson Harris.

So, if the average age of first-time buyers who buy without the Bank of Mum and Dad is approaching 40, what does that mean for repayment terms on any mortgage?

“Of course, not many 18-year-olds have thousands of pounds in savings, so increasingly they are relying on the Bank of Mum and Dad to pay for the initial cost of driving.