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Mortgage swap enquiry
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Farah1976
Posts: 1 Newbie
Hi, have a silly question but need some clear advice please.
I have a mortgage on a property in my name and my mum has a mortgage in her name on her property. I want her house and she wants mine. Is there anyway we can swap over mortgages? She is retired and has about 140000 outstanding on her mortgage. My house is worth roughly the same but is on a longer term of repayment.
Would we have to sell the houses to each other or can we just swap?
Any help would be much appreciated, thanks!
I have a mortgage on a property in my name and my mum has a mortgage in her name on her property. I want her house and she wants mine. Is there anyway we can swap over mortgages? She is retired and has about 140000 outstanding on her mortgage. My house is worth roughly the same but is on a longer term of repayment.
Would we have to sell the houses to each other or can we just swap?
Any help would be much appreciated, thanks!
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If your mother is retired. How does she intend repaying her existing mortgage?0
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