Help me help my daughter!

Legacy_user

My daughter and her boyfriend are saving to buy a house. He is 26 and she is 21 in a couple of months time. Apart from telling them to make wills so that we dont share her part of the house on her death, and his daughter doesnt get her share of her dads part of the house on his death (doomongering i know), i dont have a clue about mortgages and neither do they. Where do i start to help them? They are planning on saving £1000 a month between them to start with (i can advise them on where to put it) but i cant advise them how to get a good mortgage at a decent interest rate. Can anyone help me out here?

UK007BullDog

They need to speak to a broker. But first of all they need to save up a deposit if they can, however there are 100% mortgages, but its always better to have a deposit.

Then they should go "Tenants in Common", so if one of them dies it will go to their estate not the other party of the mortgage. Not Joint Tenancy.

They also need to speak to a solicitor which can explain all of this and inheritance and capital gains tax issues.

kenshaz

Charcol Online*

Moneynet*

Best Buy Tables

Chase De Vere

Moneyfacts

London & Country

Finishrich

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1101649966,86816,

Check out the above article on the main site.