The travails of first-time buyers are well documented.
Many creditworthy individuals in steady jobs are unable to get a foot on the property ladder without a substantial deposit and in the current economic climate, accumulating tens of thousands of pounds is extremely difficult for most people.
There has been survey after survey highlighting how grown-up children are having to go to their parents for financial assistance, either with the cost of living or to buy their first property.
With regards to the latter, many parents use their own property to help their children raise the funds they need by way of lifetime mortgages and other equity release schemes.
If your children have asked for your assistance, equity release is one option that you could explore.
Before you come to any decisions, it is vital that you speak with an equity release adviser about your choices and whether equity release is the best way forward.
Many parents in your position - after seeking advice - choose lifetime mortgages to help their offspring buy their first home.
Lifetime mortgages allow you to release a cash lump sum from your home and interest accrues on the loan at a fixed rate each month.
The loan plus interest is then repaid when the property is sold - usually when you or your partner enter into long-term care or pass away.
As previously stated, you must seek equity release advice before signing up to a lifetime mortgage so that you fully understand how they work and what the pros and cons are.
Typically, there are no monthly repayments to meet with lifetime mortgages and you retain full ownership of your property. You also have the option to repay the loan at any time.
Inheritance is a key concern for those exploring equity release products. Some lifetime mortgages allow you to guarantee an inheritance and you should look for those that do if this is an important issue for you.
An equity release adviser is likely to stress the need for your scheme to be approved by the Equity Release Council - formerly SHIP - the organisation that regulates the industry.
There are downsides to lifetime mortgages that you need to be aware of, including the possibility of incurring early repayment charges. Another downside is that the amount you leave as inheritance is reduced.
A lifetime mortgage is one way for you to help your children get a foot on the property ladder. However, you have to be sure that it is right for everyone - including you.