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Can my parents get a buy to let mortgage and rent it to me?

Renting from your parents isn’t practical as a solution – your parents would effectively be masquerading as landlords when in reality they just want to help you live in your own property.  They’d have to declare the income from the rental too and pay tax on any profit.

There are first time buyer mortgages available to borrowers who have small deposits and whose family are able to help them get their foot on the property ladder.

Some don’t even need any assessment of your parent’s income and outgoings – they’re only needed as a safety net in the worst case scenario. Your parents or other family members, They’d need to be comfortable with either their property or same savings being used as security for your mortgage.

Family Building Society
Ebbisham House
30 Church Street
Epsom
Surrey KT17 4NL
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