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Asking Grandmother For A Deposit On "the Archers"

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Don't know if any of you caught The Archers on R4 last night? I am not a regular listener, so don't know the name of the character, but one seemingly newlywed twenty-something was asking his grandmother for an deposit for a house. 10% deposit of £18000 - he straight out asked her for it. About 2 mins into the episode.

"Think of it as an advance on my inheritance." Cheeky f.ucker.

Is this the Archers trying to normalise this sort of behaviour? Or are they just reflecting what happens nowadays?

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Don't know if any of you caught The Archers on R4 last night? I am not a regular listener, so don't know the name of the character, but one seemingly newlywed twenty-something was asking his grandmother for an deposit for a house. 10% deposit of £18000 - he straight out asked her for it. About 2 mins into the episode.

"Think of it as an advance on my inheritance." Cheeky f.ucker.

Is this the Archers trying to normalise this sort of behaviour? Or are they just reflecting what happens nowadays?

In spite of this meme of BOMAD, most people dont have this sort of money.

Its like weddings, on the telly, its 10, 20 30K, all paid for by mum and dad...Nah....

And all the soaps, money, buying a house, just about anything, none of it adds up to reality....and there is a reason for that...they are for dreamers and a 30 minute break FROM reality.

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In spite of this meme of BOMAD, most people dont have this sort of money.

Its like weddings, on the telly, its 10, 20 30K, all paid for by mum and dad...Nah....

And all the soaps, money, buying a house, just about anything, none of it adds up to reality....and there is a reason for that...they are for dreamers and a 30 minute break FROM reality.

Exactly.

Not so much 'an advance on inheritance' as 'downpayment on my care home fees'.

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Exactly.

Not so much 'an advance on inheritance' as 'downpayment on my care home fees'.

Which the council will want back when she goes in a care home. Friends daughter has just benefitted from this, grandma has STR on pension and given granddaughter deposit, meanwhile gran is clearly going senile and will end up in home anytime soon. Interesting to see what council have to say when she wants her fees paid for.

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Which the council will want back when she goes in a care home. Friends daughter has just benefitted from this, grandma has STR on pension and given granddaughter deposit, meanwhile gran is clearly going senile and will end up in home anytime soon. Interesting to see what council have to say when she wants her fees paid for.

Interesting, an update to this would be greatly appreciated (although I'd well understand if you would rather not divulge such information). I guess councils will be wising up to this issue given the sums involved in care home fees.

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Which the council will want back when she goes in a care home. Friends daughter has just benefitted from this, grandma has STR on pension and given granddaughter deposit, meanwhile gran is clearly going senile and will end up in home anytime soon. Interesting to see what council have to say when she wants her fees paid for.

People need to think about these things way in advance.

My parents don't want their assets to go the state (given what it does with its money) so are partly enjoying themselves by spending them and partly giving them to their children as a steady annual IHT free gift.

All of this since their 50s when they did the sums. Ok boomers, HPI and great final salary pensions but combined with an appreciation of how lucky they were with it, lack of avariciousness, and desire for it to benefit their children and not the taxman or go in care home fees.

Absolutely spot on IMO.

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Interesting, an update to this would be greatly appreciated (although I'd well understand if you would rather not divulge such information). I guess councils will be wising up to this issue given the sums involved in care home fees.

Friend says "its a grey area" apparently the council have prove you did it to avoid home fees, unless they can prove they knew she would end up in a home etc...

On a related issue i am currently dealing with my fathers estate, who died over xmas. The new rules about transferring spouses IHT allowance takes the tax threshold comfortably over his estate value (its over £325k). Being the cynic i am I was wondering why the govt changed this law. It occurs to me (and my partner who is and accountant) that many elderly couples had started to make wills that gave £325k away to kids on one death and the rest on the second. With this change the remaining partner will keep all the estate, but then single elderley people often end up in care homes paying for their care......

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Friend says "its a grey area" apparently the council have prove you did it to avoid home fees, unless they can prove they knew she would end up in a home etc...

On a related issue i am currently dealing with my fathers estate, who died over xmas. The new rules about transferring spouses IHT allowance takes the tax threshold comfortably over his estate value (its over £325k). Being the cynic i am I was wondering why the govt changed this law. It occurs to me (and my partner who is and accountant) that many elderly couples had started to make wills that gave £325k away to kids on one death and the rest on the second. With this change the remaining partner will keep all the estate, but then single elderley people often end up in care homes paying for their care......

Yes we didn't realise it had changed.

It is effectively £650k inheritance tax threshold now if your relative had a spouse.

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Didn't hear that episode, but there's an ongoing story line where a rich and very old central character makes her will clear, and causes friction in unexpected places in the family. I expect the character in question is one of the two beneficiaries of that: he's getting married (to a girl who's a whole lot nicer than he deserves) and she wants their own place.

Oh, and where the couple now live, he once tried to buy, but was outbid by his now-landlord who is younger than him but had just had an inheritance.

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I listened to the Archers for about ten years, always the Omnibus and any I could catch during the week.

In that time they pretty much covered all the storylines you could have in that setting so I stopped listening to it, haven't heard it for years.

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Don't know if any of you caught The Archers on R4 last night? I am not a regular listener, so don't know the name of the character, but one seemingly newlywed twenty-something was asking his grandmother for an deposit for a house. 10% deposit of £18000 - he straight out asked her for it. About 2 mins into the episode.

"Think of it as an advance on my inheritance." Cheeky f.ucker.

Is this the Archers trying to normalise this sort of behaviour? Or are they just reflecting what happens nowadays?

Absolutely normal....£17,000 is the average of any first time purchase since 2009, many start off as loans but they will all morph into gifts..........

http://www.theguardian.com/money/2013/jul/24/first-time-buyers-2billionpound-help-parents

Edited by crashmonitor

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Friend says "its a grey area" apparently the council have prove you did it to avoid home fees, unless they can prove they knew she would end up in a home etc...

On a related issue i am currently dealing with my fathers estate, who died over xmas. The new rules about transferring spouses IHT allowance takes the tax threshold comfortably over his estate value (its over £325k). Being the cynic i am I was wondering why the govt changed this law. It occurs to me (and my partner who is and accountant) that many elderly couples had started to make wills that gave £325k away to kids on one death and the rest on the second. With this change the remaining partner will keep all the estate, but then single elderley people often end up in care homes paying for their care......

Correct.

Council/state will make every effort to steal the money. If person going into care had been diagnosed with, say, dementia and it was clear at the time money was gifted then they may have a good case to steal it or take a charge over house.

Very sorry to hear about your father. I have a similar view about the IHT spousal transfer. Particularly with the clear intent from all parties to massively ramp up the £££ they intend to steal to hand over to care home owners in future (£75,000 and rising.......)

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People need to think about these things way in advance.

My parents don't want their assets to go the state (given what it does with its money) so are partly enjoying themselves by spending them and partly giving them to their children as a steady annual IHT free gift.

All of this since their 50s when they did the sums. Ok boomers, HPI and great final salary pensions but combined with an appreciation of how lucky they were with it, lack of avariciousness, and desire for it to benefit their children and not the taxman or go in care home fees.

Absolutely spot on IMO.

To most people wealth seems to be a game where the objective is to accrue as much as possible. It doesn't make sense to them to deliberately make themselves poorer before they finish the game (die).

Current wealth and tax levels will surely challenge this attitude.

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People need to think about these things way in advance.

My parents don't want their assets to go the state (given what it does with its money) so are partly enjoying themselves by spending them and partly giving them to their children as a steady annual IHT free gift.

All of this since their 50s when they did the sums. Ok boomers, HPI and great final salary pensions but combined with an appreciation of how lucky they were with it, lack of avariciousness, and desire for it to benefit their children and not the taxman or go in care home fees.

Absolutely spot on IMO.

Mother in law went into a care home three years ago, her house was sold and had savings of 200k as well. It may all go in home fees, which just goes to show where avariousness gets you. Meanwhile her daughter was left to struggle during the difficult early years of adulthood. Fair enough, except the mother in law got her house given to her by her father, but she never saw fit to return the favour.

I think you should make your own way in life, but she did wrong by her daughter.

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