YOU HAVE YOUR SAY

EVERY week, Money Mail receives hundreds of your letters and emails about our stories. Here are some from our article about how you could help your children get onto the property ladder . . . WHEN my son was three years old, we used our life savings of £25,000 to buy a flat. We rented it out and, for the next 20 years, it will pay for itself. When he is old enough, he will have a fully paid-up property. D. Y., London. BOTH of my children did the same thing I did: they saved up themselves to buy an affordable home. Now, they don’t have one second-hand item in their places. Ours was full of them. B. D., Liverpool. THE Bank of Mum and Dad is not really a bank. If it were, the parents would be expecting the cash to be repaid — with added interest. In most instances, the Bank of Mum and Dad is more like a money tree. P. S., Darwen, Lancs. IT’S A nice idea to help your children, but what happens if something goes wrong? You would need to have a legal document drawn up if there is a change of circumstance and the parents need the money back. C. A., Gloucester. TO BUY our first home, we sacrificed all of life’s luxuries. We went without expensive holidays, meals out, takeaways, concerts and even cinema tickets. My children indulge in all the above and then wonder why they can’t afford to buy. S. Y., Devon.

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