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    stoptheclocks
    Taking over parents mortgage?
    • #1
    • 19th Feb 08, 11:20 AM
    Taking over parents mortgage? 19th Feb 08 at 11:20 AM
    My parents have a mortgage and are struggling with the repayments. They're paying 7.2 interest. I think they can get a better deal but they don't because they're in there sixties and there is 20 years plus on the mortgage. Is it possible to transfer the mortgage to one of the children? The mortgage is approximately 1/4 of the value of the house. If this is possible what needs to be done. I take it, that its not as simple as changing the name on the deed and taking over the payments.

    Any information welcome.
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