Help your Child to Buy - Buying Option

This is our solution for parents to help their child to buy a property and also to keep them in it. We understand that it isn’t just about paying money and getting your child into a home, you also want them to gain their independence and feel responsible for the commitment of owning a property.

You buy the property in your name for your child; either outright or with a deposit and mortgage and then your child can live in it. You set up an agreement that your child is responsible for the mortgage repayments, bills and upkeep of the property as condition of the arrangement. If your child keeps to the agreement, you can choose to allow your child to benefit from their contributions to the property and hand over the ownership of all, part or in direct relation to their contribution. You can leave the arrangement knowing they have a roof over their head and the ability to keep it there.

To protect the arrangement between you and your child, Share a Mortgage provides a legal document called the Shared Ownership Protection. You both agree the terms of ownership setting out clear parameters when your child can earn the right to own a share of the property by keeping up to date with mortgage repayments and maintaining the property.

Your child:

• isn’t liable to the mortgage lender for the repayment of the mortgage
• takes responsibility for living in the property – no more rent or living at home!
• benefits from a mortgage in your name, potentially with a better mortgage product
• can buy your share or it could be gifted at a later date
• benefits jointly from selling if the property increases in value
• will lose their contributions if they breach the agreement with you

For you:

• are solely liable to the mortgage lender for the repayment of the mortgage
• as legal owner, you remain in control with the help of Shared Ownership Protection
• age restrictions apply and you may struggle to get a mortgage if you are over 50
• requires tax planning as any gain is classed as a 2 home
• satisfaction of helping your child onto the property ladder

We provide a full conveyancing service and introduce you to market leading mortgage advisors, conveyancing solicitors and RICS surveyors.

You should consider:

• You will be liable for mortgage repayments regardless of if your child pays you
• Your children do not own the property
• Requires tax planning as the property is classed as your second home

For more information call now on

0333 344 3234

Buy GiftGuarantee Loan

Help your Child to Buy 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. Find out more about the Help your Child to Buy - Buying Option

Help your Child to Buy - with a Gift 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. Find out more about the Help your Child to Buy - Gift Option

Help your Child to Buy as a Guarantor 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. Find out more about the Help your Child to Buy - Guarantor Option

Help your Child to Buy with a loan 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. Find out more about the Help your Child to Buy - Loan Option