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Parent-child mortages for 1st time buyers?
mr_goosey
Posts: 54 Forumite
Hi all,
Further to my last post, I've been investigating the idea of specialist joint mortgage products for 1st time buyers.
The difference between this kind of product and a regular joint mortgage, as I understand, is that the age of the 2nd applicant (i.e. my father, who is in his early 60s) is disregarded, meaning I would be able to take a mortgage repayment term longer than 14 years.
Coventry PLC offer such a product, but wondering whether anyone has seen or is aware of any others? Having some trouble googling, and the broker I have spoken to thus far didn't turn up much.
Thanks in advance
Further to my last post, I've been investigating the idea of specialist joint mortgage products for 1st time buyers.
The difference between this kind of product and a regular joint mortgage, as I understand, is that the age of the 2nd applicant (i.e. my father, who is in his early 60s) is disregarded, meaning I would be able to take a mortgage repayment term longer than 14 years.
Coventry PLC offer such a product, but wondering whether anyone has seen or is aware of any others? Having some trouble googling, and the broker I have spoken to thus far didn't turn up much.
Thanks in advance
0
Comments
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What are you trying to achieve compared with a sole mortgage?
Lower/no deposit?
Higher mortgage amount?
Lower rate?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Higher level of borrowing0
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