It’s well reported that first time buyers increasingly have little choice but turning to their parents to get on the property ladder – helping save for a deposit and qualifying for a loan.
Against this backdrop a niche mortgage product is coming to the fore that enables parents to help financially without triggering a stamp duty charge (which can happen as parents’ involvement invokes a charge on ‘second homes’). Joint-borrower sole proprietor mortgages allow family members to back a buyer financially without becoming a co-owner.
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The value of investments can go down in value as well as up, so you could get back less than you invest. It is, therefore, recommended that you seek full, personal advice in respect of your needs where all appropriate risks will be explained.