Bad credit need a mortgage

sam3418

dawn35 i am in the same situation what lender agreed that so i can try them myself,thanks

Thrugelmir

Does your mother have any credit issues?

kingstreet

So, this is an undervalue purchase from a family member, with some fairly serious recent adverse credit?

I'm surprised you could find a lender at all.

Worth bearing in mind you may have a potential deprivation of assets issue if your mother requires council-funded care in the near future.

What are the CAG links about? They don't want to open on my machine...

Conrad

OP - you need to be aware that buying under value is not a simple matter and most underwriters will decline it. One of the sticking points will be them probably wanting proof she is moving out in case later she claims rights to reside if you end up getting repossessed. A simple disclaimer to the property is often not enough in UK law where the previous owner carries on living there and might have transfered property to you under duress / without properly understanding the implications - it's a legal quagmire and only tends to work with squeaky clean cases. Especially given your past history lenders will be doubly nervous.

They will want a water tight reason for you Mum wanting to put house in your name.

It might work and good luck, but dont go paying over heavy up front broker fees.