Renting while parents own over £1.4million in property

[Emmav2020]

Just after peoples thoughts. So myself and OH pay £1000 in rent a month aswell as having 2 kids and paying a fortune in childcare. My parents own the above amount in property. Now while ive spend over £50,400 paying rent i was thinking and kind of got myself annoyed that my parents are sat on that kind of money while im still renting. Even if they gave me a small deposit i would be forever grateful just so we can get ourselves a mortgage and onto the property ladder. my sister was given a hefty chunk my her in-laws to buy a house so shes find.
I mean we have save a bit ourselves but its nowhere near what we need
Would you be annoyed or do i have no right in thinking they could help us just a little.

Exactly this. I bet your parents are really proud of you (and your great attitude!). 🥰

Because of the stinking attitude that prevails too much in the UK which is that's it's somehow obscene to help out or to expect help. If you look for help, you are a greedy beggar, and should pull your boots up, as opposed to sitting on wealth and keeping it to yourself whilst your children and GC struggle. That's the height of virtue somehow.

Mind you I think it only prevails around a certain class because the very rich or landowner titled sort, tend to help their children out, which is extremely ironic.

They have it in a range of buy-to-let properties, the OP, their own child, and grandchildren being one of their buy-to-lets at £1000 a month.

The OP says they have "£1.4m in property" - no mention of liquid assets. Many older people live in properties that have appreciated hugely in value over the decades they've owned them, but in terms of income they could still be relying on their state pension alone. Are they really expected to sell their homes just to give cash to their children?

Where does the OP say this?

Or they may be planning on ending their days in a very nice care home without wanting to be a burden on their children.

Sorry I don't think you should expect your parents to give you anything. They didn't give your sister anything, she got it from her inlaws. What about your inlaws?
When we purchased our house we didn't any help from my parents, we did get a loan of $10,000 from my father in law, that we paid back within 6 months.
My children rent, my daughter has just purchased a house (literally just a few days ago) with no help from either set of parents, even though some help was offered. My youngest son is renting and is saving for their down payment.

Mind you I think it only prevails around a certain class because the very rich or landowner titled sort, tend to help their children out, which is extremely ironic.

Did you just make that up or are you quoting from a study? And if a study can you link to it please?

Its further back mentioned by another poster regarding the OPs previous thread

I didn't suggest they sell their property. I wondered if they could lend/give the OP money to pay a deposit on a home. I should have added "if they have enough cash". I should have known some nitpicker would find fault by looking for something that isn't there.

What they could do is rent the house out at market rent and then save up the extra after paying out the loan and paying an estate agent and tax etc to put together a lump sum for the op to buy her own property - of course that would have meant the op lived in a 2 bed flat for quite a few years, which I’m guessing she wasn’t keen on either.

Some of you women are so hard in your comments she is only asking us all what advice would we give her about asking her parents for some help she not asking for a verbal battering of words from you all.
I feel sorry for any young couple these days trying to save for a deposit especially when they are having to pay rent and gas and electricity and feed and clothe their family before even trying to save a deposit for a home of
their own.
If I was you I would go and ask your parents for help as they can only say yes or no but just one other thing do your parents actually charge you £1000 a month to live in one of their rented properties if they do shame on them as my mum and dad would never have done that to me whatever the circumstances

She can always move and pay considerably more to another landlord.
Why do you think she should have zero housing costs?

No it isn't. The OP has only posted two comments in this thread and only the first one opening the discussion only says they pay £1k pm in rent - it doesn't say that their parents have BTL properties or that they rent one from them.

I feel sorry for any young couple these days trying to save for a deposit especially when they are having to pay rent and gas and electricity and feed and clothe their family before even trying to save a deposit for a home of their own. I’d suggest you sort your shit out and have enough financial security before you have kids rather than the other way around - that’s being an adult.

they haven’t got cash in hand, just the property. Why not ask if you can live with them for a couple of years to save a deposit.

Read the thread right through.

They own more than one property. The OP is paying her parents.

Where does the OP say their parents are their landlords? The OP's first post says they pay £1k pm in rent, but they don't say they pay this to their parents.

And what the OP actually asked is if she's right to be annoyed that her parents aren't giving them any money.

I have read the whole thread. I've also isolated just the OP's posts (of which there are only two) and they do NOT say their parents are their landlords or that their parents own BTL properties.

Why don’t you search for the OPs other posts - that will give you the background.

If I had so much that I could afford to gift deposits to my children, I would. I'd rather offer than have them ask though. The problem is, I think a lot of younger people don't realise their parents aren't quite as well off as they think they are. I remember what rich looked like to me in my 20s. Very different to now!

I agree with this. My dad died bankrupt. He was always awful with money. I now financially support my mum (& my ten year old twins) solo. The one thing that made me confident in my decision to have my twins was that I owned a 25% share of a one bed flat (I’d saved the money for the 25% share). I knew my ex wasn’t going to contribute financially and I never expected my parents to. I sold my 25% share and moved to an area I hated and bought a house I hated and renovated it. I had two/three year old twins and worked four days a week. I commuted four hours a day, came home, looked after my kids then stripped wallpaper, sanded floors, painted walls etc. That hard graft gave me a big enough deposit to buy a house in the town I wanted to live in. It was AWFUL while I lived in the town I hated, but I knew I was working to build a lovely future for my kids. My best friend is a self made millionaire. I expect nothing from her. (But, full disclosure, she sometimes pays for stuff for us - like she just paid for us to go on a holiday. I am eternally grateful and she knows it). I do not understand people feeling entitled to other people’s money. I love my best mate. I’d love her if she never shared a bean with me, because she’s funny and kind and easy to be around. Equally, although my dad was an absolute pain in the arse - and poor as can be - I’ll still always love him. Love people for who they are. Don’t love them based on what they can give you. And don’t expect them to give you the life you want. Work hard for the life you want. Make the right sacrifices and accept the good where you can see it. I genuinely think one of the things that makes me happy is that I see the good in everyday things. A nice smell makes me happy. A good book. A smile from a stranger. Life is easy if you look for the good.

Stop going on holiday, and save that money. It’s ridiculous though, if you can afford to rent, you can afford a mortgage.
Its the governments fault

Lack of good manners, too.