Avoid Bank of Mum & Dad nightmares & seek advice from mortgage broker, Deal Direct.
Seeking proper advice from mortgage broker, Deal Direct can help you avoid family upsets when it comes to Bank of Mum & Dad lending.
Obviously, where possible, parents want to support their children to buy a house. Market estimates indicate that the Bank of Mum & Dad will be contributing nearly £6 billion in deposits and fees this year alone. While the intentions are good, stress can be caused if there’s confusion around whether the money is a gift or a loan as well as affordability issues.
Money can be an emotive subject and, sadly, relations can sour if expert advice has not been sought in the first place. Without seeking advice about mortgages from Deal Direct, families could miss out on solutions tailored to family borrowing by:
- Staying loyal to the bank they’ve always banked with.
- Not wanting/being able to research the whole of market fully.
- Failing to shop around and compare relevant deals.
As we are an independent mortgage broker, our advice is:
- entirely in your best interests
When should you contact Deal Direct for mortgage advice?
Contact us first if you need to ask family for financial help to buy a property or your help is being sought by your children.
As the market is complex, mistakes are commonplace and costly. The result is everyone could finish feeling emotionally as well as financially drained.
Approaching Deal Direct for expert advice can help to put everyone’s mind at rest by finding a better solution that works for everyone.