Of course, there are other ways to help your son or daughter access the mortgage market rather than simply raising money towards their deposit. As an example, certain types of mortgage allow you to act as a guarantor for a first time buyer, boosting their chances of securing a home loan.
Guarantor mortgages can take into account your income as well as your child’s, something which could increase the amount they’re able to borrow. But these mortgages should be looked at very carefully, as they’ll require you to guarantee your child’s repayments. If they fail to make them, you’ll ultimately have to foot the bill.