Specialising in the bank of Mum and Dad

You want to help your child buy a home, but….how?

 

You want to help your son or daughter buy a home - but what’s the best way? Contributing to the purchase price by making a gift probably feels good. Making a loan probably feels transactional. Taking a mortgage or a caveat might feel almost adversarial. Life isn’t always simple. What if….

  • the relationship between your child and their partner breaks down early on? Do you really want to see their partner get perhaps half (or even more) of the amount you assisted them with?

  • their relationship breaks down later, when there are children involved? Do you really want to get caught up in arguments about how you provided your assistance as part of an acrimonious break-up?

  • you have other children who you’ve already helped - or would like to help in the future - and you’re not sure how to ensure they are all treated fairly?

  • you have a blended family, with disparities in age and financial needs between siblings and step-siblings?

Matthew Allchurch

Your bank of Mum and Dad specialist

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Matt Allchurch is the principal of Allchurch Legal.

Matt has over 25 years’ experience as a banking and finance partner in top-tier law firms, and is also an experienced general counsel, having worked with large, global corporations, as well as small and medium sized companies.

Over the last few years, Matt has advised parents seeking to assist their children buy a home, and has developed significant expertise in dealing with the numerous and sometimes complex legal issues which can arise with “bank of Mum and Dad” loans.

Matt also understands that there are sometimes complex family dynamics, which require clear and empathetic guidance to help you ensure that all parties - including siblings or step-siblings not involved in the particular transaction - understand the issues involved and feel heard.

Why Allchurch Legal?

Allchurch Legal delivers peace of mind for you and your family:

  • Solutions which give your child the funding assistance they need, while at the same time protecting your interests (and those of your child) if things subsequently don’t go as expected

  • Simple, streamlined documentation and execution

  • Vast experience and expertise in all aspects of property finance

  • Independence - Matt acts for you, independently from your children and any bank lender taking a first mortgage

  • Understanding and empathy - Matt works with you to understand the family and relationship dynamics, and to assist you to ensure that your child (and any siblings) understand the ramifications of the transaction

  • Value - we have a simple and transparent basis of charging, with fixed fees for most transactions. If you need a more complex or bespoke arrangement, we will provide clear cost estimates based on an agreed hourly charge-out rate.

Matt's approach

 

  • Personable, easy to deal with

  • Sees the big picture – works with you to understand not just the property transaction but the family dynamics and related issues as to estate planning and equity among siblings

  • Concise and clear

  • Efficient and timely

  • Clear, precisely drafted documents

Find out more

Contact

Email: matthew.allchurch@allchurchlegal.com.au

Mobile: 0405 131 793