Would you take money from your mum in this situation?

[RevoltingPeasant]

I am really genuinely torn on this one.

So: my mum and dad split up 4-5 years ago, DM is in her mid-60s, owns her house outright, has comfortable savings and runs her own (small, 1-person) business. Recently she put her house in trust to me and the DSisses because she says she intends to leave us the property eventually and she doesn't want us to have to pay inheritance tax. I felt pretty uncomfortable about this as it seemed like anticipating her death but I also saw it was a sensible, kind thing for her to do.

DH and I are saving for a house. I trained a long time to do what I do and I will be 34/35 before we can afford one, even on about a 90% mortgage. We also want to start ttc in the new year. But I am worried about having a baby without being close to our savings target as I think we would be unable to save much with DC here.

So my mum said recently, do I want to 'anticipate' my eventual inheritance by having her cash in some money on her house to put towards our deposit? I said no but I know this will come up again when we go for Christmas next month and I don't know what to say.

AIBU to say yes to make my life easier, or should I stand on my own two feet and delay house-buying & baby-making?

Interesting alternative option, Talkin.

Should the OP talk to an accountant about it?

cosie Hope that didn't sound too sales pitchy, am a regular, but didn't really fancy posting my mortgage details in public .

No, no - it didn't at all. It was a good other option to suggest.

Oh ok, we didn't talk to an accountant (naive) but one of the stipulations was that my bankofdad had to seek independent legal advice about it.

Well that's always a good idea. Meeting needs while satisfying both legal requirements and individual aspirations ain't usually easy.

And make sure that there is a stipulation about what happens if you and your partner were to split up- am sure you won't but can you imagine how you and your mum would feel watching him walk away with the money She worked so hard for.

There's a thought - and that could be a deal breaker.

Good point Iwish the money stays in the guarantor's name though and in a savings account so I don't think that would happen easily. I think the biggest potential issues come from either you missing mortgage payments or if the guarantor decides they want their money back early. Providing both parties are reasonable, which it seems the OP is neither should be an issue.

Just checking back into this thread - thanks Talkin. We are already looking at a SavetoBuy account with Nationwide, where you save with them specifically for a certain amount of time and they offer you a