Buy to let mortgage implications

nlong

Hi,

I am not sure where to begin with this but hoping someone may be able to point me in the right direction of who to seek further advice from....

My situation is as follows.

In my own right, I have a mortgage with my partner, both still work and have at least 30 years left until we retire.

On the other hand, my parents are retired and still have a mortgage in their own names for their own property, with many years left to run. Currently they can still afford to pay it, but it is feasible that in the future they may not be able to.

The issue is that; myself, mother and father are all named on a buy to let mortgage, that was taken out a few years prior to me taking out my own mortgage, for a separate property that we rent out.

My concern is; if my parents cannot afford to maintain their own mortgage and their mortgage provider seeks foreclosure, will the provider see the Buy To Let property as one of my parents assets? and will their be any financial implication to me?

Thanks
Nick