Every year, the Bank of Mum and Dad comes to the rescue by helping tens of thousands of first-time buyers get on the housing ladder.
Last year alone, 46% of first-time buyers received financial help from their parents to purchase a property, with £8.8 billion changing hands (source: Savills).
But for parents planning to assist their offspring, or children hoping to get a helping hand, there are a few issues to consider first.
Not since 2008, when Katy Perry stormed the music charts and Gavin and Stacey ruled the small screen, have interest rates been as high as they are today.
As a result, many mortgage holders are looking for ways to trim their outgoings to ease the financial burden.
Homeowners are putting DIY projects on the back burner and reducing their spending on
holidays and takeaways, while some buy-to-let landlords are toying with the idea of self-managing their rental portfolio (despite the fact agent fees are tax deductible).
But while the prospect of saving a bit each month on letting agent fees might seem attractive, in the long run, it could be a false economy.
Here are some reasons why self-managing your rental might not save you any money at all.
