Giving your children a helping hand onto the property ladder
Never before has it been so difficult for young people to get their foot on the housing ladder. It is only natural that many parents and grandparents wish to help out where possible.
Whilst financial support is given with the best intentions there are a number of issues which could transform a simple well meaning gesture into a legal minefield that could have a significant impact on you and your child.
Typical questions include:
- Should we remortgage or use our savings?
- Is it better to make a gift or a loan?
- Our child is buying with a partner, how do we protect our money?
- Our child's partner wants to move in, what rights do they have?
- Our child is getting married, what happens if they divorce?
- What if we hit hard times, can we get our money back?
- What is the impact on our inheritance tax position?
- We have other children so how does this impact on our wills?
These are just some of the issues that can arise where specialist legal advice is essential to ensure that you are adequately protected.
We have developed a fixed fee solution for their clients which crosses over three legal disciplines all in one package and for one fee. We can provide you with the advice to help you navigate the issues so that you can make an informed decision on the best way to proceed for you and your family.