HOW TO STAY IN THE BLACK IF YOU’RE RUNNING THE BANK OF MUM AND DAD

Money Mail, June 7

HOUSE prices are rising so fast in certain areas that some people can’t afford a home even with help. Something must be done.

N. L., Hull.

WHILE I understand people want to help their children, I think the best way to do that is to let them stand on their own two feet.

S. M., Manchester.

I SAVED my deposit by working three jobs. After a few years, I got together the 25pc I was aiming for. I would never have dreamt of asking for a handout. As far as I’m concerned, my parents did enough by letting me live at home on a reasonable rent.

D. L., Gloucester.

PEOPLE criticise the young for borrowing from their parents but, sometimes, you don’t have a choice. I had to because, being self-employed, banks don’t think I’m a safe bet. And saving is nearly impossible, as my landlord charges me £1,100 a month.

T. M., London.

WE HELPED relatives recently. Now they live in a beautiful home with expensive furniture and flash cars. We never had anything like that and saved even for tatty furniture. Now they have dumped their kids on us while they tour the U.S. I’m so mad that we helped them out at all.

I. N., Cumbria.

AS MUCH as you might love and trust your kids, it sounds very risky lending them money, especially if their partner is involved. If you can’t afford to buy a home, rent one and put aside any money you can to save for a deposit.

M. R., Birmingham.

I WAS 39 when I got my first mortgage. My son is now 22 and wants to buy a home. He wasn’t impressed when I told him I wouldn’t help. Life is difficult and he needs to learn that. Parents need to stand back and let their children learn the hard way.

D. E., Edinburgh.