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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10734
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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I am giving my daughter half towards her buying a property.

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I am giving my daughter half towards her buying a property. I cannot go on the mortgage because I am too old so the mortgage will be in her name only which means that the property will be in her name. A mortgage adviser told us that after completion we can go to a lawyer and draw up a document stating that I own half the property. this is important as we have other children. Is this correct?

Hello and thanks for using Just Answer.

My name is ***** ***** am happy to assist you with your enquiry.

On this general issue, whenever a party applies for a Mortgage, they have to disclose where their deposit is coming from. If a parent is providing some or all of it, the Mortgage Lender will require a letter from that parent to confirm it is a gift, as opposed to a loan (Mortgage Lenders won't normally lend if the Borrower is "borrowing money from elsewhere").

So, in the eyes of the Mortgage Lender, the monies you are providing has to be by way of a gift, and if your daughter's Solicitor is notified this is not the case, he will be under a duty to notify the Mortgage Lender, who in turn may refuse to grant a Mortgage.

This leaves you in a tricky position in that you can get get any evidence or do anything to protect your financial position in the property at the time your monies are paid over.

The Mortgage adviser is correct in so far as after completion, provided you go to a different Solicitor to the one who acted for your Daughter, he can prepare a simple Declaration of Trust, which will state that although the legal title is held by your Daughter, she holds half of the property on trust for you. This will be sufficient evidence to confirm your interest in the property, but please note it will rank below the Mortgage, in that if your Daughter decides to re-mortgage at a later date for a higher amount, and then she loses her job and the property is repossessed, the new Mortgage Lender will be entitled to claim back whatever amount is owing under the Mortgage even if this is more than 50% of the property value.

I hope this makes sense and assists you.

Kind Regards


Hi Margaret,

Can I assist you any further?

Kind Regards


Customer: replied 3 years ago.

Where are you based and are you able to draw this document up for me?

Hi Margaret,

As a question and answer site, I am afraif I am unable to tout for business. However, any Conveyancing Solicitor will be able to assist you in drafting the Declaration of Trust.

If I have assisted you, I would be grateful if you could leave positive feedback so I may get credited for my time.

Kindest Regards


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