PLEASE HELP! My mum wants to transfer mortgage to me - how?

gauly

You're not going to be able to get a mortgage if you don't own part of the house. A bank won't lend you the money if you don't have an asset as security. What you are asking for is the equivalent of an enormous unsecured loan and I don't think you can get a £160K unsecured loan even if there wasn't a credit crunch.

I think the two possibilities are:
1) Keep the mortgage interest only and pay into a savings scheme ... and if you are allowed to pay off 10% a year do that too.

2) Maybe you and your brother can be guarantors for your mother's mortgage. Certainly parents are often guarantors for their children's mortgages so I imagine it's possible the other way around. Then she should hopefully be able to get the repayment mortgage she wants.