Ask Jenni

Ask Jenni: “My Parents Gave Me A Deposit To Buy A House But Now They Want It Back”

November 13, 2018 by

“Hi Jenni

When I was 25, my parents gave me and my boyfriend £40,000 towards a deposit on a house. We’d already saved £20,000 between us, but the money they gave us allowed us to get a better interest rate.

Four years on, my parents want us to start giving the money back. My dad got made redundant a few months ago and is struggling to find work, my mum only works part time because of health issues, and they’re struggling for money. It turns out that the £40,000 they gave us was the majority of their savings. They have money set aside for retirement, but it’s not enough to start using it early. They’re both in their late 50s. Continue Reading