My wife and I found, despite being on the grown-up side of our 40s, that in pricey Brighton it was almost impossible to get a foot on the property ladder.

That was, until ‘Equity Release Parents’ stepped in!

What is the point of family if not to love and support one another? In this day and age when getting a helping hand to climb onto the housing ladder is more important than ever, it seems family is increasingly coming into the equation.

The release of equity is a very viable solution for many. Yet there is still significant trepidation out there. What does it entail? Am I eligible? Why do it?

My wife’s parents had already decided that they would help each of their three daughters when the time came to put some money down on a property. And within just a year into my relationship with my partner, and with a baby on the way, they were good on their word, giving us £30,000 (they did this with each of their three daughters, at various times) to help us do exactly that. They were able to release equity from their own property, a process they found easy and hassle free.

As an exercise to help your children, I think it’s a sensible and positive thing to do, rather than taking it to the grave with you

“As long as we’re not leaving anyone with any liabilities it feels like the right thing to do,” says my partner’s father Clive. “As an exercise to help your children, I think it’s a sensible and positive thing to do, rather than taking it to the grave with you.

“I think it’s been a help to our children, giving them a good start. I can relate it to my time in Southampton when we didn’t have any money at all. In 1966 I was the beneficiary of a scheme where I could get a 100% mortgage though, and property prices were very low compared to now. Our mortgage was £4,225 if memory serves me correctly!”

It seems that helping each other out is the name of the game now

That £30,000 made the difference between owning our own home and the vulnerability of renting. With a child on the way, the last thing we wanted was to be insecure. And we have remained in the same property to this day, happy to both live and work in Brighton.

It seems that helping each other out is the name of the game now. My mother, who is in her mid-70s but remains in good health, is in the process of releasing equity from her property in order to help both my sister and myself help pay off our outstanding mortgages.

She has decided that rather than wait until she dies, it would be better to do this now, in order to release some of the burden of the mortgages we both have. My sister and I are both in our early 50s, so who knows how long we’ll be fit and healthy enough to carry on working? It will take a considerable weight off our shoulders, and in our minds, and will go a long way to finally paying off our mortgages. “I am able to do this easily. It feels like the right thing to do,” says mum.

And knowing that it may be tough for both our sons, we intend to do the same thing for them. We’ll be able to release some equity when the time is right, and give them the helping hand that we enjoyed. It will not only help us to keep worry at bay, but will be a huge help to them, providing security and protection for the future.