can this be done????

f1slikki

Hi there this may sound silly but I knew you guys would know or at least be able to point me in the right directione..

I have recently took out a personal loan through barclays partner finance in which I purchased a vehicle, everything fine with the loan & the company fine to deal with so far but what I was wondering was this..........

I am looking at purchasing a property & due to new car payments my affordability is restricted (only in the eyes of the mortgage company though) however my parents have offered to pay the car finance for me in order to enable me to get this property however I dont know if & how this could be done..........

any help would be appreciated........

CLAPTON

your parents could take out a loan and use it to pay off yours.... of course the debt would then be theirs and not yours.

f1slikki

yeah what I was thinking of was transferring the finance into their name or getting a letter to say that the payments would be made from my parents account something like this......

thanks

CLAPTON

what do you mean 'transferring ' the finance into their name?

I doubt any mortgage company would accept a letter... it would have no legal significance.