when can I out a deposit for my son so that he is owner of the property/ with mortgage - when is is 16 or 18?

[stripes11]

when can I out a deposit for my son so that he is owner of the property/ with mortgage - when is is 16 or 18?

I don't understand the question - do you want save a deposit for him to buy his own place? I'm fairly sure you can't get a mortgage at 16.

You can give your son money any time you like.

It's very unlikely he will get a mortgage at 18.

Sorry I am not sure I fully understand the question, and you should definitely consult a solicitor in any case rather than relying on MN where anyone can dish out possibly dubious advice.

Are you planning on purchasing a property with a mortgage, and you want your son to become sole owner when he is 16/18? Would this be your family/main residence or a buy to let? I am not sure what you want to do is possible, because the bank will only lend money in the name of an adult with financial capacity to repay it (i.e. you), and they won't lend you money against a house you don't own. Plus unless your son has unusual earning power, I doubt he will be in a position to take over the mortgage aged 16/18 (unless you are planning to pay it off by then?). I am not 100% sure, but it might be possible for you to enter into an arrangement as tenants in common with him (would have to be a trust formed in his name while he is a minor), but with you having sole responsibility for the mortgage on your 'share' - when the mortgage is paid off you could then gift him the rest of the house. I have heard of such arrangements being possible to secure the future of DC with special needs, with specialist mortgages etc being available. But this would be a complicated arrangement and you will need specialist legal advice?

A minor cannot be the owner of a property, so your son would have to be 18 as a minimum. Would your son be able to get a mortgage at 18?

My DS got a mortgage for a property when he was 18 (he is 20 now) but as he did not earn enough from his part-time job (he’s currently at Uni) to get the mortgage on his own my DH is also on the mortgage with him. However, we had it drawn up with our solicitor that we have no claim to my DS’s property (which he rents out as he still lives at home with us). Not sure if that’s any help?