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You may wish to assist a loved one with the purchase of the property be this either a child, grandchild or parent. There are several factors to consider and options available to you should you be in a position to assist a family member with a property purchase.

You may not realise that in order to assist a family member with a purchase you don't have to give your money away as an outright gift. You may wish to make a gift of the deposit or a larger contribution but have you considered other factors, such as ensuring that you treat all family members equally and what would happen if your funds are being used towards purchase by your loved one and their partner?

If you gift a deposit or other sum of money it cannot be recovered if your relationship with the family member changes or their circumstances change.

You may wish to think about providing a loan to that family member rather than gifting funds  A private charge can be secured against the property that your loved one is purchasing subject to the consent of any high street lender they may be obtaining mortgage funds from. 

Loaning part of the funds for a purchase of a property rather than gifting can also offer some flexibility with your own personal estate planning.

There is also an option of being a co-owner of the property with your loved one or using a declaration of trust to record your contribution to the overall purchase price and associated costs, however, this can have an impact on the level of Stamp Duty Land Tax (England) or Land Transaction Tax (Wales) payable.

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Our Approach & Our Experience

Our extremely knowledgeable solicitors are able to advise you in a friendly manner on all the options available to you and associated technicalities to help you understand the implications any gift or loan provision will have upon your estate and also the situation of your loved one.

Our team is recognised as one of the friendliest and most approachable in South Manchester and Cheshire whilst at the same time being market leaders in terms of prestige service levels.

Examples of recent work:

  • A loan from parents to daughter to allow the purchase of a new property to proceed while protecting their capital investment to ensure fair distribution between all their children through their estate.
  • A loan from daughter to mother to allow her to purchase a new more suitable property pending sale of the mothers existing property

Meet Our Specialists

Home-grown or recruited from national, regional or city firms. Our specialist conveyancing solicitors are primed to provide a stress-free premium service, whilst solving your residential property matter.

Heather Adams

Heather Adams

Heather is a Partner and Head of our Residential Property department

Zoe Olender

Zoe Olender

Zoe is a Senior Associate in our Residential Property department

Hassan Shah

Hassan Shah

Hassan is a Solicitor in our Residential Property department.


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Complete the form below or alternatively you can call us on

0161 941 4000