Help him to buy his own place if you have some cash or can remortgage.

A “loan” of £10k should kickstart a deposit. Put in a repayment plan but don’t expect it back. It might be more than you would have got back in “rent” but it will help him stand on his own two feet. Use your liquidity you got from gains your generation made to help him.

He should look to get a lodger, that should pay a fair chunk of your loan back. Rent a room is tax free inc extra services.

My parents did this for me. They remortgaged their house interest only a little to lend me a deposit, and I paid both their mortgage and my own with the help of lodgers.

House prices will only ever go one way and the sooner he has his own place the better.

@binners

😀

(must rewatch that series soon)

The last one. I’m in my 20’s and bought a house with my partner last year.
I think lots of this generation has a sense of self entitlement and priorities all wrong!

Average house price round me is £383,784 chances of either of my kids buying anything in their mid twenties is pretty much zero.

Remortgage? I’ve just lumbered myself with £130k mortgage, I’m not getting any more! As for a £10k bung, I’ve work to do on the new house so that’s out of the window as well! And 3 other kids to look after. Sadly I’m not a bottomless pit of money 🙁

Well he`s decide to sofa surf part week at his girlfriends house and his grandparents place. Apparantly for 18 months to 2 years while he saves for a house! I wish him good luck 😀

yeah right he’s on the sofa? 😉

When I still lived with my parents I didn’t pay much per month, but I wangled that as long as I was saving for a deposit in my ISA…

it worked, and when met someone (and stayed at hers weekends/midweek) i was able to match the equity she had in her house with my savings when we went in together.

so IMO that’s an argument for a conditional lower rent if they’re saving.

g/f is a goos sign. but for others in a similar situation i’d also suggest some pro-active encouragement to dating (online?).. theres more than one way to move his life on… (hopefully you don’t end up with a pregnant g/f moving in too though…!)

Get over to housepricecrash.co.uk and wise up to the banker and landlord support which has led to interest rates held at “emergency” levels for eight years to support house prices at current levels. Without that one single act we would have had a correction. BOE and consecutive Governments complicit in this (see one T. Blair and P. Hammond esq) as most have extensive property portfolios themselves. All the Help to Buy sops are designed to keep prices supported and throw a few crumbs to the masses.

House prices were delinked from incomes in the 2000s and the result is at least one generation working to provide black Range Rovers with personal number plates for landlords and bankers.

110k for a 4 bedroom house?

I need to move where @biglee lives. Pronto.

It would benefit me…. bigly….

IGMC