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re-mortgage on parents mortgage free home
falgal
Posts: 2 Newbie
I am moving back into my parents mortgage free house. I would like to add a single or double storey extension so my parents have a downstairs bedroom and I can live upstairs. Can I remortgage there house, with there permission of course, or do I need to have my name on the deeds to remortgage there house to raise funds for an extension? Any advice would be much appreciated.
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Comments
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You would need to own the property jointly with them, then you'd all apply for a remortgage. Their ages may cause you problems with an affordable term.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
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Thank you kingstreet for the informative reply it is much appreciated.0
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