Post Office Mortgage

cococoladebt

I'm getting my first mortgage with the post office, a buy to let remortgage.

I spoke to them a few weeks back and they said that because I haven't had a mortgage before, they will only consider me as a second applicant. My father will need to be the first applicant and I will be the second applicant, they said, as long as the deed is in my name, which it is.

Our solicitors are on holday until 4th January - would there be any tax complications, I can't think of any?

Thanks.

Senior_Paper_Monitor

I think you have the wrong information ......

1) if you are both on the mortgage then you are both on the deeds (and vice versa) - I know of no lender currently willing to do otherwise.

2) Yes, there are certainly some potential tax liabilities depending upon your father's overall position and the ownership plan. This can often be mitigated in several ways - it may be that 'tenancy in common' would be the best solution for this (and other issues).