swapping a mortgage onto another house

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can someone help?? my wife has a mortgage with her mum, abt 85,000
due to the family getting older and bigger we would really like to get our own place and leave the mum in law in this current house. can we have the mortgage put onto another house for us, so the current house has no mortgage and the mum in law can be left here without a mortgage and in peace? please help. thanks.
due to the family getting older and bigger we would really like to get our own place and leave the mum in law in this current house. can we have the mortgage put onto another house for us, so the current house has no mortgage and the mum in law can be left here without a mortgage and in peace? please help. thanks.
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In theory, yes you can take a mortgage out on one house to pay off the mortgage on another. However, in the current climate you won't get a mortgage on any house that is more than, say, 90% of its value.
So, to do what you want, you're going to need savings of at least £85k plus 10% of the new house value. I guess that if you had £85k of savings you wouldn't be asking the question.
Have you considered buying a larger property with the MIL?
are you suggesting that you want to buy a new property to live it
if so how much would the house cost
how big is your deposit
what is you income
It doesn't work that way - you can only move your mortgage to another property if you sell your mother in law's house, or repay the outstanding mortgage. You've no way of keeping the house and moving unless you come up with £85k plus a deposit for the new house.
The only possible option is if your mother in law has an income which would allow her to take on the mortgage - you don't say what age she is and what income she has.
how much would you need to borrow to buy a home of your own
how much deposit do you have
what do you earn