You may need to be involved in the mortgage. I tried to do this and the bank wanted me to be an applicant on the mortgage.Put your own name on the title with the couple.
Otherwise in the event of a dispute the messiness of family law takes over.
Hi,
I wish to give my daughter a deposit (maybe €60k) to buy an apartment with her boyfriend. Would appreciate advice on the best way to do this so that it is clear that she is providing the deposit, and that it would be returned to her should they split up and apartment is sold. Hopefully this would not happen but I feel it is wise to consider all possibilities.
Thanks
If they are not married, Family home act doesn't apply.
How solid is the relationship?
You could look at them purchasing the property with shareholdings to reflect their relative contributions.
Or lend the money to both so that he owes you €30k too; take security over the equity in the property after the mortgage has been drawn down?
If you have lots of assets, it might be better to lend the money anyway and write off €12k a year over five years to preserve her threshold anyway.
A declaration has to be signed that the money is a gift and not a loan.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?