Britain’s Best Lenders – Mum & Dad

Britain’s Best Lenders – Mum & Dad

The days of 100% mortgages are unlikely to return any time soon.  Quite the opposite, in the current climate, it’s a case of “the bigger the better”, where deposits are concerned.  While it may be the purchaser who hands over the deposit, many first-time buyers are turning to the bank of mum and dad for help to get on the housing ladder.  This, however, impacts on the financial health of the parents in question.  With this in mind, here are three points to consider on the topic.

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Buy To Let Numbers Do Still Add Up

Buy To Let Numbers Do Still Add Up

The UK is one of the most densely-populated countries in the world and hence there is a high demand for housing both to buy and to rent.  Over recent years, the government has attempted to help first-time buyers onto the housing ladder though a combination of providing direct assistance, in the form of help-to-buy schemes, and by making it more expensive to buy and run investment property (buy to let).  With all the recent changes, now may be a very good time for landlords to reassess where they stand financially and to decide if buy-to-let still makes sense for them.

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The Upfront Cost of Downsizing

The Upfront Cost of Downsizing

With the notable exception of children, smaller is generally cheaper.  This is usually very true when it comes to housing (on a like-for-like basis of course, a studio flat in London might well cost more than a house in rural Wales).  Because of this, there’s an obvious financial attraction in downsizing property once children have flown the nest.  As is so often the case in life, planning ahead can help to keep costs down and maximize the money you can call your own after the move is complete.

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Helping your children to fly the nest

Helping your children to fly the nest

Just as young adults may yearn for their independence, outside the parental home, so parents can be just as eager to speed them on their way, so that they can get on with their own plans for  the future.  The challenge for both sides is that houses are far from cheap.  Assuming buying a property outright for your offspring is too much of a financial demand, there are basically three ways, you can help your offspring move out of the family home.

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