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.



More than mortgages, talk to me about:
Financial Protection | Investments | Personal and Corporate Pensions | Home Insurance
General Insurance | Valuations | Conveyancing | Wills | Home finders

Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

You are currently offline. Some pages or content may fail to load.