mortgage question

dazzadub

thats something ive always thought of, me and my partner have a child already.
when child was born we had no where to live and her mum n dad put us up there, dont get me wrong it wasnt ideal but worked.

the mum has stayed with us on and off while her divorce is sorted and its been ok. her mum is super relaxed about me and her daughter, shes kinda like a second mom to me.

it would be stressful, but in the long run it would benefit me and my partner.

lot of pros and cons, but she needs a home, and we want to buy.

itll save me trying to find 40k deposit

dazzadub

been to see an advisor today.

based on the deposit of 30k and joint earnings, we can have a mortgage of 89k plus the 30k deposit so we can look at 120k propertys.

this would be over 25yrs, her pension and future earnings have been looked at

they said we could make an application and its likley to be approved. based on both credit scores. they said we need to find a property of a good state of repair.


now its the tuff part do we actually do it.

RenovationMan

dazzadub wrote: »

now its the tuff part do we actually do it.

Perhaps have a look at this thread and ask the person involved if it's a good idea?

https://forums.moneysavingexpert.com/discussion/3736519

dazzadub

thats terrible.


i doubt it would ever come close to that, i doubt her mum could do that to her. i know anythings possible but she not the type of person. if she ever wanted to leave house she would just sign her share over.

she has 2 reason behind mortgage, 1 is to have a roof over her head rather then private rent, and 2 when she goes her daughter my partner gets it all.