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You are here: Home / Mortgages / Buying property for kids under the age of 18 years

by Payam Azadi

Buying property for kids under the age of 18 years

Getting a Mortgage and Buying property for your children

Buying property for kids can be a way of securing their future. Most parents will look to buy property for their kids when they are grown up or studying, and there are a number of mortgage solutions available, however, did you know you can start buying property for kids before they reach the age of 18 using a special “buying property for kids” mortgage product?

That’s right buying property for kids with a special mortgage product can start as soon as they are born. The upside is of course you and they should benefit from property value inflation. In fact, future equity could be used to fund their university fees.

How does the “buying property for your children” mortgage product work?

  • No minimum age for kids.
  • In short a limited company is formed with the parents as “Directors” and the kids as “Shareholders”. The parents are Guarantors for the mortgage and must be over the age of 25 years.
  • A minimum of 20% to 25% must be put down as deposit.
  • The property must be bought with the intention to let to an unrelated tenant.
  • The property could have a single family, multi-let or HMO configuration. Holiday Lets and Airbnb are not permitted.
  • Maximum 20 properties up to a maximum mortgage total of £10m.
  • Mortgage terms up to 35 years.
  • Rental coverage 125%.
  • Previous credit problems over 12 months ago may be considered.

Click below to see an Example product for buying property for kids

Example of Mortgage product

Niche Advice offers appropriate advice to parents buying property for kids (even those who are under the age of 18 years).

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For more information please complete the Contact Form on this website or call T: 020 7993 2044.
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Payam Azadi

Author: Payam Azadi

Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines. To get in contact with him please click here.
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AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA Number: 750263.

Commercial Buy-to-Let and commercial mortgages are not regulated by the Financial Conduct Authority.

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