Daughter's Inheritance

Posted on 31 December 2011 by James


My two daughters (17 and 16 yrs respectively) have inherited a mortgage free property worth approx £200,000. Under the terms of the Will I can raise money/sell the property on as I think fit. I would like to raise approx £100,000 for various investment/home improvements and would like advice on the best type of deal available to me ...if any.

James

We would need to see the terms of the will and what your legal position is before we can advise you on raising capital against your daughter's property. Are you, for instance holding the property in Trust for your daughters?

Please call 0344 346 3672 and tell the consultant the basis that you are acting for your daughters. They will then be able to advise you if it is possible and then after completing a full fact find be able to offer you advice on the most suitable type of mortgage.

Peter

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.

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