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My Daughter Wants a House.

bri160356 · 2014-08-05 11:35:23

My daughter and her husband live in rented accommodation and are looking to buy their first home. They are both in their 20’s and have been in ‘secure’ employment for several years. They have a combined income of about £70k p.a. They could probably raise a deposit of approx £50k. (depends how generous ‘Bank of Dad’ is…

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kidmugsy Posts: 12,709

Forumite

7 August 2014 at 12:57PM

A gift is a gift. But if you want to lend them money after the purchase to help them with furnishing or decoration, that's fine. In our family we just exchange letters stating the amount and the terms (interest-free, no inflationary uplift, to be repaid on such-and-such a date), and accepting those terms and acknowledging receipt of the gift. Then neither side has to rely on memory. You can always waive repayment if you want, or let the debt run to infinity.

Free the dunston one next time too.
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My Daughter Wants a House.

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