Parent to child property loans

If you want to provide financial support to your child to buy a house there are some things to think about before you part with your money.

You may be happy to treat the money you give to your child as a gift, but you should understand there are circumstances where that gift may be lost.

While you may trust your child completely to repay the loan without the need for a formal loan agreement or mortgage, that may not be enough to protect
your funds. The money could still be lost in the same circumstances as listed in the gift section above.

So the loan should be secured against the property and then should you die before the loan is repaid have you considered that impact on other beneficiaries. Have a read of the attached article and have a chat with our lawyers. Parent-to-child-property-loans