If you’re thinking about buying a home from a family member, it’s entirely possible and, in some cases, it can make the process a little more straightforward.
Whether it’s a parent, grandparent or another relative, this route is often used by first time buyers in Manchester who are looking for a more affordable way onto the property ladder.
Can You Buy a Home From a Family Member?
Yes, you can. It’s quite common, especially when someone in the family wants to help you make that first step. From a legal point of view, the process is the same as buying from anyone else.
You’ll still need a solicitor, a mortgage (unless you’re buying in cash), and a professional property valuation. What’s different is usually the price.
Family members often agree to sell below market value to make things easier, which can reduce the size of the deposit needed or even replace it entirely.
Lenders are generally open to this, though they’ll have specific requirements.
As a mortgage broker in Manchester, we can help confirm which lenders accept family purchases and guide you through what’s needed.
What is a Concessionary Purchase?
When a property is sold for less than what it’s worth, that’s known as a concessionary purchase. In family situations, this is quite common.
For instance, if a home is worth £200,000 but sold for £170,000, the £30,000 discount can usually be treated as your deposit.
You’ll still need to apply for a mortgage, pass affordability checks, and confirm that the discount is genuine and not repayable later.
Not every lender offers concessionary purchase mortgages, which is why working with a mortgage broker in Manchester like ourselves is helpful.
Why Buy From Family?
The main benefit is affordability. Buying below market value means the discount can often replace the need for a cash deposit.
This makes it easier for first time buyers in Manchester to purchase a property sooner than they might otherwise be able to.
There’s also more flexibility. Family members can be patient with timings or help with legal fees and other costs.
Many people also feel more comfortable buying a property they already know, rather than taking on a complete unknown.
What Will the Lender Need?
The mortgage process works much the same as any other property purchase. You’ll still need to prove affordability and show that the property is suitable as security for the loan.
Lenders will normally ask for:
- A professional valuation of the property
- Written confirmation of the agreed discount
- Proof of your relationship with the seller
Some lenders may also request a signed declaration from the seller confirming that the discount isn’t a repayable gift.
Our mortgage advisors in Manchester can make sure all the correct paperwork is in place before the application is submitted.
Why Use a Mortgage Broker?
Buying from a family member can feel simple, but there are still unique details that need to be handled correctly.
Not every lender deals with concessionary purchases, and some will have stricter criteria if you’re a first time buyer or working with a small deposit.
At Manchestermoneyman, we’ve helped many customers arrange mortgages for family purchases in Manchester.
Whether you’re buying below market value, using a gifted deposit, or navigating a complex set of lender rules, we’ll manage the process from start to finish.
From checking affordability and preparing documents to communicating with lenders and solicitors, we make sure everything runs smoothly.
If you’re planning to buy a property from family in Manchester, speaking to an experienced mortgage broker can help you get things right from the start.
Date Last Edited: October 29, 2025
