My daughter wants to borrow against my home to buy a property in Italy?

Posted on 29 March 2013 by Mary

My daughter wants to borrow against my home to buy a property in Italy?

My daughter wants to buy an Italian property (to let). She has £20K. She earns £35K. I own outright my property ( I am retired) worth 450,000.She would like to borrow against my property 200K. Is this the best option? Regards, MH


It's certainly one way of doing it. As long as you have sufficient pension income to support the proposed mortgage, then there's no reason why you shouldn't go down this route. Will your daughter be coming onto the new mortgage or will you be looking to take the loan in your sole name?

The one thing that I would suggest though is that you take legal advice on the best way to protect yourself, in the event that anything should go wrong with the Italian property.

There are certainly lenders out there who will be okay with what you are looking to do, but I would suggest it's worth having an initial chat with one of our consultants, to talk through your option in a bit more detail.

If you'd like to do so, please let me know and I'll arrange a suitable time for one of them to contact you.



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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.

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