Need advise for Mortgage to help a Parent Move.

Lard74 · 5 June at 9:19AM

Hi,
This is a slight reversal on the bank of Mum and Dad.
My Mother is looking to move much more locally to me. She has seen a place she really likes but doesn't have quite enough to buy it and to do work needed on it.

Iam happy to get a mortgage (sub £100k) against my property, which i own outright , to then give to her so that she can move.

My question is - can I do this?

Thanks

Keep_pedalling · 5 June at 9:26AM

Yes you can, but I would loan her the money (protecting your loan with a charge against the property) rather than give it to her so it does not form part of her estate for IHT purposes, or in case she leaves everything to the local cats home.