How to Gift a Deposit
Grandparents and parents are you wishing to help your loved ones buy their first home?
We firstly advice that you read our first two mini articles before processing the following
Options of how to gift a deposit:
- Equity Release: for homeowners who do not want to downsize and are aged 55 or over. Equity built-up through the rising of your property can be released and then gifted while still being able to live in your property
- Downsizing: this is a way of releasing equity, if you wish to reside in a smaller premises.
Savings: Using some but not all of your savings may be a way to help a loved one get on the property ladder as a first-time buyer. Remember to put your financial health first though, never give what you cannot afford to lose!
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