“I am looking at buying a house and my parents have offered to gift or lend the money to me, whichever makes most sense from a tax point of view. How should we structure the purchase? Who should pay the deposit/buy the house? Is there mortgage relief?”

I have had several cases recently in my legal practice of parents either lending money and/or gifting money to children in order to enable them to purchase a dwelling house. There are several legal, tax and practical considerations to be weighed up, some of which are as follows: