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buster01_2

Hi looking for some advice. My sister and I are looking to purchase a property together, to enable both sets of families to live together, we have seen a property that we would like, but the question is could our mother use her property as the depoist, as she would be looking to sell her's to move in with us. Her property is valued at 10000.00 and she has 30 thousand remaining on her mortgage, but not sure how long it would take to sell my mum's, and don't wont to miss out on the other property.

kingstreet

You'll need a cash deposit if you aren't going to wait to sell the property. You could raise that by remortgaging the current property or raising a bridging loan.

There are pitfalls. You'll potentially be paying out a lot for both properties while you are waiting for a sale.

buster01_2

Many Thanks