When your family buy a home for you it can be tempting to think it’s a good idea to make a few extra cash before the property sale starts.
But for some people, buying a home can be a huge gamble.
So we asked people if they thought it was a good thing or a bad thing to do.
Here’s what they said.
Read more:Is buying a house a good move?
What you need to know about homebuyers’ fundsWhat to do if you buy a property with your parents, spouse or partnerWhat to know if you are considering buying a propertyWhat you need in case of a property saleWhat is a mortgage?
What are the different types of home loans?
What is the legal basis for a home loan?
What do you need when you sell your home?
Find out more about buying a rental property with a parent, spouse, partner or childWhat you should do if your parents sell their homeWhat to ask your spouse before you buy or sell a propertyA mortgage is a loan made by a bank or other financial institution to you to cover the cost of buying or selling a property.
It can be an insurance policy, a lump sum or a fixed rate loan.
The bank or lender will take care of the money for you and your partner.
You can apply for a mortgage if you meet all the requirements and can prove that you have the income, assets and assets-related skills to pay it off.
You can also apply for an interim loan if you need help paying off the loan in the meantime.
A mortgage loan can also be a form of a home equity loan, or a loan for an apartment or rental property.
In some cases, a mortgage may be made to cover other expenses, such as an emergency or loss.
In most cases, the loan is repaid on completion, and is normally paid over a period of time.
If you have a mortgage, you can’t be charged interest for it.
However, you will have to pay any interest accrued on any interest you earn, regardless of whether you receive any of the payments.
In the event of a sale, the proceeds of the sale will be distributed to the seller, but any payments from the sale, including interest, will be deducted from your income.
In many cases, if you can afford the loan, you won’t be responsible for paying interest on it.
For example, a deposit that you put into a savings account or a deposit you pay in a lump-sum may not be taxable, even though it is part of a loan.
Your lender may also charge interest on any amount you pay for a loan and can impose a penalty if you don’t pay the interest.
There are also tax benefits if you get a home mortgage.
These are usually provided as part of your mortgage, but some types of mortgage are tax-free and some aren’t.
For more information about buying and selling a home, and how to apply for it, visit the Money Advice website.
Read More:What is mortgage insurance?
Why do I need a home insurance policy?
Read more about mortgages and home ownership.