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Lending or gifting money to family doesn’t come without challenges - it’s a big commitment for both you and them. If you’re thinking of taking the step to help a loved one get onto the property ladder, and you have a question about how it might affect your future plans, this is your chance to ask the experts.
The experts:
Graham Sellar, Head of Mortgage Development, Santander - Graham has more than 30 years of experience working in financial services, and has been a mortgage specialist at Santander since 1996. He is regularly quoted as an expert voice in the media on all things mortgage related.
Hayley Burton, Financial Planning, Santander - Hayley has 25 years of experience in retail banking and 6 years’ experience in the wealth area, where she leads teams across the UK who provide expert, trusted investment and protection advice to customers based on their individual needs and to achieve their financial goals. Hayley is also a Mum and Step Mum to three children aged between 11-16, and so she’s regularly thinking of ways to help her children financially in the future.
Linda Murray, Regional Manager, Santander - Linda has worked in banking for 35 years across a broad spectrum of areas including mortgages, risk and most recently face to face banking in Santander branches. At work, she’s particularly passionate about supporting customers to help them make informed choices about their banking. Linda is also a single mum to her 24 year old daughter, Charlotte. She’s looking to support Charlotte financially and emotionally when she buys her first home.
Do you have questions around what to consider when deciding to help loved ones? Or perhaps you’d like to know more about what help you could provide (financial and non-financial)? And if you do help with a gift, loan or early inheritance, would it have an implication on your own future? The Santander experts are here to help and will be back to answer some of your questions between 26 July and 6 August.
All who post a question (regardless of whether it is answered or not) will be entered into a prize draw where one GNer will win a £200 voucher for the store of their choice (from a list).
Thanks and good luck!
GNHQ
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I gifted a sizeable amount of money to my daughter three years ago, to help her buy a property for her and her children post divorce. It was all arranged through her Bank/Mortgage provider and was, as I recall, quite straightforward. I simply had to sign a form to the effect that this was a gift, not a loan. And, provided I lived for seven years from that date, there would be no tax implications for her. Gives me an incentive to live that long 
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