When you join Share a Mortgage you will begin your home buying journey. We provide a step by step journey tracker to help you through the process and keep you informed and up to date.
Buying a home with your children can help them get onto the property ladder because you increase their buying power with your salary and additions to deposit funds.
You also keep control because your name is 'on the deeds' as your children gain in independence and responsibility stemming from looking after the property and keeping up monthly repayments.
At Share a Mortgage, we give you the option to gift a property to your children. You can either gift a large enough deposit so that your child can get a mortgage, or the full value of the property.
Remember, you can gift any amount of money to your children tax free.
At Share a Mortgage, we give you the option to buy a property with your children with you acting as guarantor for their mortgage. As guarantor, mortgage lenders are more likely to lend and may offer a larger mortgage.
The mortgage lender takes into consideration your income and assets which boosts the buying power of your child, with the additional security that you pay the mortgage if your child doesn't.
At Share a Mortgage, we give you the option to loan your children money to buy a property. Your loan not only gives your children more buying power but means that the mortgage figure they need to buy their home will be less and monthly repayments will also be lower.
You set the conditions for your loan; when and under what circumstances it is to be paid back.
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