Every parent wants to give their child the best possible start at life, including ensuring their financial future.
This week watch Michael explain and discuss the many ways parents can help their children enter the property market, whilst also teaching them to be financially responsible.
This week’s question:
How do I help my daughter get into the property market?
I have a 30-year-old daughter with a steady job, but she hasn’t saved much during her working life.
She’d like to buy her first property but doesn’t have sufficient deposit.
And of course, house prices are so expensive today.
How can we help here?
David Harvey
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'Ask Michael Anything [Video] – How can I help my child get into the property market?' have 2 comments
March 31, 2017 Rob
I discourage parents from using their own home as collateral. If the kids fall behind with their mortgage, the parents will have to cough up or risk losing their home. Not and easy decision to make. My wife and I were asked for help and we had to decline on the basis of their financial illiteracy. Its a no win situation.
March 31, 2017 Michael Yardney
Rob. I understand your point of view, but teaching your children financial literacy is a parent’s responsibility