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Mortgage advice needed re divorce situation please!
jadesyb
Posts: 3 Newbie
Hi
I was hoping someone could advise on the below.
My in laws have separated. They both lived up to now in a house which my brother in law bought for them 2 years ago (value now appreciated to circa 150k, deposit 47k, mortgage 90k) using a deposit he had. He took a buy to let interest only mortgage and has now found out it is illegal to have a buy to let mortgage and then let it to family.
He wants to find a way to keep the house and get a mortgage which will enable him to let it to his mother still. The husband is out of the picture, long story short.
Ideally a private mortgage as he seemingly will get better % rates, but if not a way to get a BTL which he can rent to her?
Any advice gratefully received...
I was hoping someone could advise on the below.
My in laws have separated. They both lived up to now in a house which my brother in law bought for them 2 years ago (value now appreciated to circa 150k, deposit 47k, mortgage 90k) using a deposit he had. He took a buy to let interest only mortgage and has now found out it is illegal to have a buy to let mortgage and then let it to family.
He wants to find a way to keep the house and get a mortgage which will enable him to let it to his mother still. The husband is out of the picture, long story short.
Ideally a private mortgage as he seemingly will get better % rates, but if not a way to get a BTL which he can rent to her?
Any advice gratefully received...
0
Comments
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Regulated buy to let mge is reqd.
see a broker.
Holly0
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