Buying a property for your children is a great way to secure their future. Many parents will look to purchase a property when their children are studying as it will give them a place to live rent-free. If they share with friends, their friends' rental income can pay their way through higher education. And when they finished studying, they have a property they can live in, rent out or sell on.
While you could wait until your children are over 18, there are options to start the process even earlier. There are special mortgage products designed for parents who want to purchase property before their children are 18. This could start as soon as they are born. By the time they are ready to go to university, the property will have increased in value and the future equity could even pay their fees.
In general, you will need to meet the following lending criteria:
If you want to explore how you could secure your child’s future with a buy to let property, explore our guides or get in touch today.