Hello
Looking for advice as to best way to help son purchase a house and still protect investment .
I want to loan 50,000 to son towards purchase of house , It would have to be a loan as I have other children as well .
Ideally once house is purchased , son would remogage and pay back the 50,000
How would one go about with structuring this arrangement ,would I be a shareholder in house ?or would they have full responsibility for mortgage and loan repayment ,
Can anybody tell me the best way to do this?
I want it to be a win win for all of us
He wants to get property and I have a sum of money to invest and hopefully get a better return than I am at moment
Looking for advice as to best way to help son purchase a house and still protect investment .
I want to loan 50,000 to son towards purchase of house , It would have to be a loan as I have other children as well .
Ideally once house is purchased , son would remogage and pay back the 50,000
How would one go about with structuring this arrangement ,would I be a shareholder in house ?or would they have full responsibility for mortgage and loan repayment ,
Can anybody tell me the best way to do this?
I want it to be a win win for all of us
He wants to get property and I have a sum of money to invest and hopefully get a better return than I am at moment