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Buying a house in Scotland with my daughter

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  • Buying a house in Scotland with my daughter

    Hi My daughter lives in Scotland and would like to get on the property ladder. To get a decent property I would like to buy it with her, the issue is I am not a resident/citizen of the UK. Can anyone advise whether this is possible and what is required to be able to do so. my daughter will be getting a mortgage where as I would contribution straight up funds. Cheers

  • #2
    Why don't you use online property agencies?

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    • #3
      Hi,

      A good option for you would be ‘gifting’ a deposit to your daughter. This will mean your daughter can get a mortgage with most lenders who lend in Scotland.
      The downside is that you'll almost certainly be required to sign a ‘gifted deposit’ letter that states the money is a gift, no interest is being charged on the money and that you retain no interest in your daughters property.
      If the money is not a true gift, then the choice of lenders is somewhat limited.
      My advice for you, with regards to not being a resident of the UK, would be to get a broker to check with suitable lenders with the best products, to see if the country it's coming from is acceptable and what documentary evidence (bank statements etc) is likely to be required.
      If you want any further advice don’t hesitate to make an enquiry online at: https://www.charcol.co.uk/enquire-now/ or call us on 0344 346 3672.

      Many thanks,
      Alice

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