We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Private mortgage
pdc95
Posts: 13 Forumite
Hi
I wish to providethe funds for a private interest only mortgage to enable my daughter to trade up her house.
What steps do I need to take.
Pete
I wish to providethe funds for a private interest only mortgage to enable my daughter to trade up her house.
What steps do I need to take.
Pete
0
Comments
-
Will you want a charge on the house or not?
A mortgage company will want first charge.
A simple loan may be the easy option as long as you trust them to pay you back.
See a solicitor if you want a charge on the property and/or a formal loan agreement.0 -
Yes I will want a charge on the house and there will be no other mortgage.
Will the charge prevent the sale of the property without my agreement or repayment of the loan ?.0 -
the charge will see that you are repaid first in line in the event of a sale0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.6K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards