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!
Mortgage help

spud2212
Posts: 17 Forumite
Hi I was wondering if anybody could give me some advice before i go see a mortgage advisor.
Im 21 currently earning £25k+ my girlfriend earns Approx £14K.
My father bought a flat for £45k cash as it was a repo with no management company so no mortgages available! and i now want to buy it for £60K as an investment. The flat has been valued at £85k.
I have £6k for a deposit but as my dad only wants what he paid but I want to get a £60k as it will leave me with money back left over for an emergency fund.
But as i said this flat is investment so in two years time Ill be looking to rent out and buy a rundown house to buy and do up into my palace.
Now i didnt know wether it was better to let my g/f get the flat in her name only so i can get a mortgage on the house. but i dont wanna really do it this way what other ways are there.
There is now a management company in place so can now get a mortgage
Im 21 currently earning £25k+ my girlfriend earns Approx £14K.
My father bought a flat for £45k cash as it was a repo with no management company so no mortgages available! and i now want to buy it for £60K as an investment. The flat has been valued at £85k.
I have £6k for a deposit but as my dad only wants what he paid but I want to get a £60k as it will leave me with money back left over for an emergency fund.
But as i said this flat is investment so in two years time Ill be looking to rent out and buy a rundown house to buy and do up into my palace.
Now i didnt know wether it was better to let my g/f get the flat in her name only so i can get a mortgage on the house. but i dont wanna really do it this way what other ways are there.
There is now a management company in place so can now get a mortgage
0
Comments
-
Hi I was wondering if anybody could give me some advice before i go see a mortgage advisor.
Im 21 currently earning £25k+ my girlfriend earns Approx £14K.
My father bought a flat for £45k cash as it was a repo with no management company so no mortgages available! and i now want to buy it for £60K as an investment. The flat has been valued at £85k.
I have £6k for a deposit but as my dad only wants what he paid but I want to get a £60k as it will leave me with money back left over for an emergency fund.
But as i said this flat is investment so in two years time Ill be looking to rent out and buy a rundown house to buy and do up into my palace.
Now i didnt know wether it was better to let my g/f get the flat in her name only so i can get a mortgage on the house. but i dont wanna really do it this way what other ways are there.
There is now a management company in place so can now get a mortgage
It may not be likely but if you and your girlfriend were to split up she'd own your house. :eek: I'd put it in your name or both names personally. When the time comes to buy a house in a few years time you should still be able to get a mortgage if your flat is turned into a investment and theres enough income spare.0 -
i forgot to mention i want to keep hold of the flat to rent out :S oops i knew id forgot to mention something0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards