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Any Mortgage advisors? Quick question about taking a mortage over from someone else
Sarah_Beth
Posts: 9 Forumite
Hi,
Wondered if someone could advise. My mother in law has £20k on her mortgage left to pay, she was going to take out an equity release but this will mean she will lose a lot of the money... - anyway my question is.
My husband can take the mortgage over on his name, an interest only mortgage which she will just pay the interest on. This will leave her with just the orginal payment when the house is sold or she passes away.
Does this leave us to any potential pitfalls if he does this? Just get worried and wanted to know?
Thanks
Wondered if someone could advise. My mother in law has £20k on her mortgage left to pay, she was going to take out an equity release but this will mean she will lose a lot of the money... - anyway my question is.
My husband can take the mortgage over on his name, an interest only mortgage which she will just pay the interest on. This will leave her with just the orginal payment when the house is sold or she passes away.
Does this leave us to any potential pitfalls if he does this? Just get worried and wanted to know?
Thanks
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