Nearly 50% of Irish Home Buyers need help from the Bank of Mum & Dad. Gifts from Family and Friends is sometimes the only way to afford a deposit for a home as prices become less affordable to the average household. For those fortunate few, it can be a lifeline... but there are risks and tax implications.

So this week in Part 4 of our House Buying Guide, I talk to Alan Purcell from CloudAccounts.ie who talks us through how a parent or family member can 'loan' or 'gift' you money to help buying a house.

• Why you should consider your 'Lifetime Limit' of Inheritance and Gifts.
• How much your mother, brother, uncle and best mate can give you.
• A clever trick to get €48,000 from your parents over New Years... TAX FREE!

I also go through our Mortgage Application Checklist in my Explainer section - and Alan goes into detail about self-employeed mortgage applications, plus other taxes involved in buying, selling or owning a home. Find Alan on Instagram too @CloudAccountsIreland

At the end we have our fun features - In, Out and Away & New Home vs Old Home - plus a round up of this week's news you need to know.

Find out more about the house buying process at www.IrishHome.ie and Follow us on Instagram @IrishHomeMagazine

If you are starting your Home Buying Journey, order the Irish Home Buyer's Journal here...

Hosted on Acast. See acast.com/privacy for more information.