Alternative Stepping Stools To Get Your Kids On The Property Ladder

Every parent craves the opportunity to do certain things for their children, many of which involve financial backing. From the off, you’ll want to ensure your little bundle of joy gets the best education possible. And, when they get later into their lives, you may even want to help them onto the property ladder.

For some parents, steps like these are no big deal. They can rustle together at least enough for a deposit with relatively little worry. For others, such help isn’t easy to come by. That’s especially the case now that house prices have reached such giddy heights. What’s worse, you can see from articles like this one at, that it’s trickier than ever for youngsters to get into the property market. Which makes it even harder to sit back and watch them struggle.

The good news is, even if you can’t afford to help up-front, there are alternative ways to lend a step up into the world of property. And, we’re going to look at some of them here.


Alternative Stepping Stools To Get Your Kids On The Property Ladder



Remortgage your property

It’s important to remember that, no matter what your current financial situation, you have something to bargain with. Houses are a sound investment, and by remortgaging yours, you could well improve your finances enough to help your children. If you visit: or other sites like them, this could even become an option if you have bad credit. Bear in mind, though, that this does mean you would spend longer repaying your mortgage. If you struggle to meet your monthly payments as it is, this may not be the best option. But, if you think it’s a price worth paying, don’t hesitate to give it a go.

Buy to let

Another option and one which many parents are now taking would be to buy a property with a buy to let mortgage. Then, you can let your children rent it. This may not be the easy fix you were hoping for, but it will eventually mean they have a place to call their own. On top of which, a much smaller sum is required for a buy to let mortgage. Of course, you would still need a weighty deposit to make this work. So, for those struggling to come up with cash, it might not be the right choice.

A guarantor mortgage

If you have enough left after your mortgage payments, you could look into a guarantor mortgage. This means that you put your name down, and a mortgage lender takes your income into account, as well as your child’s. If your kids can scrape together a deposit, this is a sure-fire way to help them towards a property. It also means they’ll need less money behind them from the off. Your finances will prove as the backing to a smaller deposit. Bear in mind, though, that once you sign on the dotted line, you’re liable for any missed payments. Though, these would undoubtedly be a smaller expense than an upfront deposit would be.



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