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.

Yes. At far below market rent.

But the OP isn't expecting to ever inherit that house. Why wasn't the OP simply given the house or had the remortgage transferred to her to take over with a gifted lump sum instead of rent being demanded?

That is what my cousins in-laws did for her and her husband.

What is being overlooked is the inherent inequality of many people receiving help from their parents to get on the mortgage ladder. My neighbour is one of them. All good.

But then some are getting nothing from parents who have it. In fact they are being expected to pay their parents.

I think it's a very western 'my assets before family' way of thinking.

Nope. They can do whatever they want with their own money. They're not obliged to give you a brass farthing.
See whatever they do for you or give you as a bonus rather than anything else.

But the OP isn't expecting to ever inherit that house. Why wasn't the OP simply given the house or had the remortgage transferred to her to take over with a gifted lump sum instead of rent being demanded?

I’m not sure what you mean?
Why do you think op should have been given the house, or won’t inherit it in due course?

You have a sister who hasn't had money from your parents (but has from her inlaws) so in your mind your parents don't have to gibe her anything but should give you money. To some extent if you rent off them then the reality is your tenancy is pretty secure. Maybe they would want to treat you both the same and haven't actual cash available to give you both money.

Why not discuss a situation whereby uku guy into the property you rent off them?

You say you can't afford to get but then refer to a yearly holiday. As much ad I value holidays perhaps don't go for a couple of years to increase your savings.

I think it's a very western 'my assets before family' way of thinking.

I am not Western and am still getting a little tired of the endless posts complaining about parents not shelliing out money . And because I am not Western, I see nothing wrong in renting.

So OPs parents should let her live rent free, whilst paying the mortgage on the house OP lives in?

Actually, the OP's post is very unclear and I can't understand it.

My parents had that much in property, and I was paying 1.2k a month in rent and it never crossed my mind that my parents should be giving me any money…
did they give you the means to make your own money? Education etc .. if they did yabvu

Sorry for the confusion!

The OP hasn't given any update. But it seems that she isn't expecting to inherit the house she is renting from her own father. And is looking to get on the property ladder.

Since the house was inherited from the OPs GP and the OP has a family, I am wondering why it was rented out to the OP at a whacking £1000 per month (and yes that wouldn't go far in london but it is still a lot for people also paying CC) instead of gifted or lump sum given and offering that she take over mortgage through the bank.

It's their money and their house! why should you be annoyed??? Entitled much!

It's not entitled to expect help when the only reason many around you are making it is because they get help.

Er no. Maybe her parents should stuff the leverage and help out. FFS

I despair. At some point, OP, you might want to consider growing the fuck up and saving your own deposit instead of expecting handouts from your parents.

So pure jealousy, then?

Op had had subsidised rent for some time now.
Why hasn’t she managed to save for her own deposit, instead of whining that her parents haven’t handed her a house?

It's the word expect.

It's always entitled to expect being handed money.

Because op didn’t inherit it, her parents did?
It appears from the thread that op has siblings, why should she alone be handed a house with no strings attached?

It is always entitled to expect help.

Plenty of people still do it without help too.

No, reality.

Some parents are attuned to current reality, and help.

Some are comfortable, and think 'my money my business' and are content to see their children struggle - because 'I don't owe them anything'

Meanwhile Felicity down the road is getting a pair of keys in the post with a cheque.

Set. Not pair!

This is what I feel too.

So maybe there is a simple solution.

If OP can’t manage her finances, her parents should charge her a full market rent, bank the difference between that and the subsidised rent, and then when it’s enough for a deposit gift the lump sum to her and tell her to move on.

I mean, it’s a bit infantilising towards OP, but if she hasn’t got the willpower to do it herself it could work out.

Meanwhile Felicity down the road is getting a pair of keys in the post with a cheque.
And Penelope from next door did it all by herself.
Honestly, it’s such a very entitled and envious viewpoint. It’s irrelevant that someone else had a leg up, if your parents don’t want to do the same for you it’s just tough.
That’s reality.

It depends if it's one house that's worth that amount, or if they've got a portfolio of properties that they rent out.

If it's their family home I don't think you can expect them to downsize/sell it in order to give you money, but I admit if my parents had loads of liquid cash or a selection of houses they were renting out I'd be a bit peeved.

We have helped both our kids with a house deposit, it seemed the natural thing to do because we can afford to - they've also saved up a chunk themselves.