Can you take on someone elses current mortgage ?

SOT1

My Mother in law who is disabled and confined to bed lives in a 3bed house with my sister in law as her carer. She needs to be in an adapted bungalow but cannot get one as she has her house . We are trying to get on the property market but don't have the big deposit required for most mortgages. My mother in law has suggested that we take on her mortgage which has £28,000 left on it and as the house needs a lot of work doing on it she has suggested that when we come to sell it we give £30,000 to my sister in law( houses in that street selling for £100,000 and above).
Legally im not sure if this would work out.
Would be grateful if anyone has any insight.

dzug1

You cannot take on someone else's mortgage.

In order to do that you have to be the owner (or part owner) of the property and take out a fresh mortgage. So your mother-in-law has to pay off her mortgage, give you the property (or part) and you take out a new mortgage (or joint one). You can eclipse some of that so it appears to be one transaction - but legally that's what is happening.

And giving property away in her circumstances can have a negative impact on benefits, so is not often a good idea.

GMS

It may be possible for you to buy the property from your mother in law with her gifting you the deposit. This would mean no deposit required from you and the proceeds of the sale going to your mother in law to do with as she sees fit.

Speak to a broker to see how to proceed

McKneff

Be careful of the benefits she receives and also google 'deprivation of assets'

She may need residential care in the future.

SOT1

Thanks all i suspected as much about the reduction of her assets affecting any benefits she might need.