Parents remortgage house and lend to daughter

frithemajik999

Hi
Wondered whether it is possible for parents to remortgage their house and then on-lend to their daughter on same/similar terms (to avoid being deemed a gift). Proceeds would then be used by the daughter for property development/barn conversions? I guess can it be done and if it can, which lenders may allow remortgage money to be used in this way?
Any thoughts on this are welcome. Looking at ways of daughter avoiding having to take out a development loan (6%+ p.a. Cost).
Many thanks 

Thrugelmir

What sum of money are you considering lending? Doesn't sound like a small advance. 

frithemajik999

Not considered amount in detail, just trying to understand feasibility initially, but would be 6 figures to make it worthwhile certainly, perhaps 250k or more.

Ronnie02

There are 2 sides to this. One is can you re mortgage for this reason? Yes you can depending on your property value/affordability/ etc.
2nd question is can you gift the money? Well you could loan her the money which gets around most issues. Assuming she is going to repay you?
It could impact on your daughters ability to obtain separate property finance for  the venture if she is also doing that?