The amount of money parents need to save to help buy a house in Bristol for their child has been published online.
The 'Parent Saving Calculator’ tool has been launched by blinds company Thomas Sanderson.
It claims to reveal how much money parents will need to save each month if they wish to cover the cost of a deposit on a house by the time their child reaches the age of 21.
The website states that parents are now the 10th-largest mortgage lender in the UK.
Using the interactive tool, parents are invited to enter their child's age and the city they live in.
They are then shown how much they will need to put aside every month to cover the cost of a 10 per cent deposit on an estimated average-price house.
For example, the website suggests Bristol parents with a child under the age of one will need to save £208 per month to cover the anticipated deposit cost of £49,952 by 2039.
Based on the average yearly increase in house prices of 3.6 per cent since 2006, it is estimated the average house in Bristol will cost £499,519 in 2039.
You can have a go at the Parent Saving Calculator here.
Meanwhile, based on the same logic, the parents of a 15-year-old will need to save £509 per month if they wish to cover the cost of a deposit by the time their child hits 21. The anticipated average house price in Bristol in 2025 is £366,768.
Thomas Sanderson's marketing director Richard Petrie said: "With house prices constantly fluctuating and many households having little to no savings, we thought it would be helpful to give an idea of how much parents would need to save to help their children afford a deposit for a home in different areas in the UK.
"The difference from location to location is certainly eye-opening, with the majority of the saving plans likely being completely out of the question for parents."
Last weekend was the final chance for aspiring home owners to open help-to-buy ISA accounts.
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