Buying share of parents property / Deed of Gift

[SouthernBoy]

The initial message was deleted from this topic on 28 October 2015 at 14:54

[Sarnie]

You won't be able to take a BTL mortgage as they will not allow you to rent it to parents.

You will struggle to secure a residential mortgage, as it's not going to be your primary or even secondary residence.......

[Sarnie]

SouthernBoy said:

Hi Sarnie

I've emailed you as you've acted for me before and, if possible, would like you to do again.

That said, if this idea is a complete non-starter then fair enough. My parents own Mortgage Advisor has found one product that could work but I don't have any details of the mortgage (except that it is 2.59% repayment over 30 years) and they would lend on a deed of gift.

Do give me a shout if there is anything you can do to advise/assist.

Darren,

I've been away for a few days so just ploughing through all the mails!

Sounds like you need to get hold of the details of the product your parents have been offered as it doesn't fit most lenders criteria......

Liam