Calling Mortgage Brokers...

Calling Mortgage Brokers...

Author
Discussion

Pixelpeep7r

Original Poster:

8,600 posts

141 months

Thursday 11th February 2016
quotequote all
I wonder if someone could give their opinion on how best to go about what we need? - excuse the bullet point style post i just thought it was better than waffle.

Basically...

I own half my mums house - i have a joint mortgage with her. this was an interest only mortgage that is due to finish in 2017.

We have no plan in place to pick up the actual figure so was trying to remortgage to a repayment mortgage

due to my mums age we can't get another in her name

I don't earn enough to get the mortgage out on my own.

Me and my sister want to get a joint mortgage on my mums place and i want to take some equity out to help purchase a new place for me and my other half.

We want my mum to carry on living there and maybe pay rent to us.

This way it secures my mums place, it gives me some capital for my other half to buy a house for us (currently renting somewhere else) and gets my sister on the property ladder.

the LTV is very small as property is worth £290k and mortgage is £92k so seems quite low risk, we've all been with our jobs over a year, no ccj's etc - what's the best way of achieving what we are after?

dalenorth

821 posts

166 months

Thursday 11th February 2016
quotequote all
Sarnie is your man!

Sarnie

8,025 posts

208 months

Thursday 11th February 2016
quotequote all
Pixelpeep7r said:
I wonder if someone could give their opinion on how best to go about what we need? - excuse the bullet point style post i just thought it was better than waffle.

Basically...

I own half my mums house - i have a joint mortgage with her. this was an interest only mortgage that is due to finish in 2017.

We have no plan in place to pick up the actual figure so was trying to remortgage to a repayment mortgage

due to my mums age we can't get another in her name

I don't earn enough to get the mortgage out on my own.

Me and my sister want to get a joint mortgage on my mums place and i want to take some equity out to help purchase a new place for me and my other half.

We want my mum to carry on living there and maybe pay rent to us.

This way it secures my mums place, it gives me some capital for my other half to buy a house for us (currently renting somewhere else) and gets my sister on the property ladder.

the LTV is very small as property is worth £290k and mortgage is £92k so seems quite low risk, we've all been with our jobs over a year, no ccj's etc - what's the best way of achieving what we are after?
I'm a Broker smile

This is possible, we have a very similar one going through at the moment, but it's too complex for most lenders....feel free to drop me a mail for a chat (not a PM as they aren't working I don't think).

Sarnie

8,025 posts

208 months

Thursday 11th February 2016
quotequote all
dalenorth said:
Sarnie is your man!
Cheers Dale!! smile

Pixelpeep7r

Original Poster:

8,600 posts

141 months

Monday 22nd February 2016
quotequote all
Sarnie said:
Pixelpeep7r said:
I wonder if someone could give their opinion on how best to go about what we need? - excuse the bullet point style post i just thought it was better than waffle.

Basically...

I own half my mums house - i have a joint mortgage with her. this was an interest only mortgage that is due to finish in 2017.

We have no plan in place to pick up the actual figure so was trying to remortgage to a repayment mortgage

due to my mums age we can't get another in her name

I don't earn enough to get the mortgage out on my own.

Me and my sister want to get a joint mortgage on my mums place and i want to take some equity out to help purchase a new place for me and my other half.

We want my mum to carry on living there and maybe pay rent to us.

This way it secures my mums place, it gives me some capital for my other half to buy a house for us (currently renting somewhere else) and gets my sister on the property ladder.

the LTV is very small as property is worth £290k and mortgage is £92k so seems quite low risk, we've all been with our jobs over a year, no ccj's etc - what's the best way of achieving what we are after?
I'm a Broker smile

This is possible, we have a very similar one going through at the moment, but it's too complex for most lenders....feel free to drop me a mail for a chat (not a PM as they aren't working I don't think).
Cheers - i will drop you an email tomorrow at some point.

thank you smile

Sarnie

8,025 posts

208 months

Monday 22nd February 2016
quotequote all
Pixelpeep7r said:
Cheers - i will drop you an email tomorrow at some point.

thank you smile
No problem! smile