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Can I get a mortgage for my children to own a property?

Posted on 21 June 2013 by Martyn


I was recently widowed and with the insurance money I would like to buy a property for each of my two children. I would still need a small morgage for each house. Each house would be rented out and the profits put in a trust fund untill they go to university.The question is can I get a 7 and 10 year old a house with a morgage and what would happen about tax. Many thanks Martyn.

Hi Martyn

Your children would be unable to own the houses themselves, but they can be held in trust for them until they reach majority. The actual mortgages would be assessed based on your circumstances, eg, employment, income, credit status etc. I think it best that we arrange a time to talk on the phone about your current situation, so I can look at your best options. Please let me know a time that would be best for you and I'll arrange for you to talk to one of our consultants.

Regards,

Simon

simon.collins@johncharcol.co.uk

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