How can my daughter's help me buy another house ?

Posted on 16 November 2015 by Kathryn

I want to move from my house and buy another. My daughters want to help me but we have no clue how they can do this. They preferably do not want to part with savings.

Hi Kathryn,

Thank you for your recent enquiry submitted on our website.

We can definitely help you- but I would need to clarify the following to ascertain which lenders we could approach to secure a mortgage.

You say you ‘want to move from your current home’- what do you propose to do with your current home? Are you going to sell or do you propose to let it out to tenants?  Is this property owned jointly with someone else like a partner or are you the sole owner? Do your daughter’s have a mortgage at present?- if not are they happy to be named on the mortgage or do they only want to provide cash towards the deposit?

All of these questions and details of income, affordability and financial commitments will need to be discussed initially so  we can find the right deal suited to your needs and the options available. .

I would strongly recommend you call and speak to our mortgage advisers and arrange meeting with you and your daughters present so we can address your requirements and concerns.

Please confirm if you would like me to arrange one of mortgage advisers to call you?

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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