Parents need help

The_J

See about that switch to interest only with the mortgage company. Make sure your parents are aware that the debt will not reduce and they will still need to come up with the money/sell inside two years.

Professional

You have a few options:

1) Your mum continues to work for another couple of years. Your dad might struggle in the current job market so if your mum already has a job it might be worth hanging on to.

2) Re-brand downsizing to your dad. Maybe its time for a 3 bed outright rather than a 4 bed with 16k hanging over it. That's not moving down its just a change. I would advise you take your dad to view some properties to see what he could get for his money - something might catch his eye so be very selective in what you show him.

3) Rent out more of the property or up the rent so it covers the £700 mortgage.

4) Claim benefits or ask Age Concern for some advice. If your mum gives up her job and becomes a full time carer for your dad then she can claim benefits as his carer.

I hope you find a resolution

Dave_Ham

Where do you currently live?

Assuming you have an income, why can you not buy the property from them and release some equity for them?

They get a lump, you get a gifted deposit to get on the ladder, the tenants get evicted and you move in - one big happy family.

I am with the professional also - rent out 1 more room or put rent up and also if they are receiving £500 of £700 and cannot find the £200 a month on top then something must be broken or maybe carrying unsecured debt..

What is the place worth?

Tell us more (if you like) about your circumstances...

There must be another solution here to selling up.

In terms of Estate Agents, apart from giving them all the lethal injections tred carefully here. Would suggest they check a few out and haggle to get 1% maximum if they choose to sell.

Go in eyes open though - it is a right old mess of an industry...

Good luck