<prompt> Human: UK - Im looking at buying my first house in the next year or two, and had planned to use the money left to me by my parents to do so. I would be able to buy a house in the area I want in cash, but is there a reason why I shouldnt? I would be left with money invested so I dont have a concern about using it all up as such, but is there a benefit to taking out a mortgage that Im not aware of? Thanks in advance!Assistant: When buying cash, do not use that as a way to not do your due diligence. Many sellers like cash buyers because they wont a have any bank tie-ups and have financing fall through b may ignore non-permitted things that banks would not be ok with. When you get a mortgage, a bank will do their due diligence since they will be evaluating their new asset and cant afford to get into something they cant sell if you default. This includes non-permitted work, other work and code issues electrical, etc. Hire someone reputable to do a good and thorough inspection. Check to see that all certificates of occupancy are current and valid, that anyall work was done by licensed contractors and that permits were pulled. Take your emotions out of the process nigh on impossible, because thats what a bank would do. Human: Thanks for the advice, Im a total novice at this and hadnt considered how much the bank would do if I was getting a mortgage. Ive been waiting for the right time to use this money towards a house and absolutely dont want to do it wrong.  <response>: Youll want to get title insurance too. This is another thing banks will require you to get if you get a mortgage. You never know if someone out there has a lien against the property. Youd be out of a property AND your money pretty fast. Get a good lawyer to help with the closing process. 