How to help daughter with a mortgage.

[Imtoooldforallthis]

I'm trying to work out how to help my daughter. She trying to get out of an unhappy relationship. She owns a house with her partner with maybe £20,000 equity. He is being a bit awkward and doesn't want them to split or sell the house. She is only 22 and has two children 2 and 3. She is currently looking for part time work now eldest has some free nursery hours. She needs to move out so partner will accept the situation. We would love to help her and could easily get her a mortgage that she would pay
My question is how does she prove she is paying the mortgage, we don't want to rent to her as we will have to pay income tax, we just want the house to be in her name and her pay the mortgage. Could we be guarantors.

Curious

I thought banks had changed mortgage criteria to 15 percent deposit now
Then there is the issue of affordability
If someone is not working, how do the afford a mortgage, bills, food, transport etc ?

I was under the impression that UC does not pay towards a mortgage, but does pay towards rent

Renting is 'dead money' but at just 22 I'd have thought it preferable to being tied to a property through a mortgage.

I think (although you'd have to check with individual mortgage providers) that you could get the mortgage in your name, as she won't be able to, and you won't have to get a buy to let because she's immediate family.

So you can get a 'standard' residential mortgage as long as an immediate family member is living there - so no tax to pay as a 'landlord'. She can give you the money for the mortgage, it won't cause any issues with her existing mortgage with the partner, and she has somewhere to live.

Then in a few years when she's managed to get out of the mortgage with partner (hopefully) and has got a stable job under her belt etc she could buy the house off you, with a big vendor gifted deposit off you if that's the plan?

That relies on you being able to get a mortgage, of course.

Thanks for everyone's advice, we can help in lending her some money, equivalent to the equity out of the house, but will not be gifting her any as such as it will be taken out of our retirement savings.

I don’t think there’s a rush for your DD to get a mortgage to be honest I think your right renting is dead money.

However with 2 very young children they are her priority and it’s nice your trying to guide her. NHS are always recruiting has she registered?

Forget about getting her a mortgage for now.

Her priority (and therefore yours if you genuinely want to help her) is to get her share of the equity in the house she currently owns. Whether by forcing a sale through the courts or getting the ex to buy her out.

Concentrate on that first step. Don't underestimate how big a step it might end up being.

I agree that she needs to rent, we have some houses near us that have a rent to buy scene which may suit her, there is non available at the minute until a new phase is built.