Mortgage to help daughter to buy house and to fund son's education in USA

2314sadie

Hi. Could I ask if you think it would be possible for my I husband and I to acquire a mortgage to help our daughter to buy a house and also to fund our son to go to the states to continue his education over their doing a golf scholarship We are 55 have finished paying our own mortgage but would be looking at a mortgage of 80k over 15 years... Do you think they will say we too old. We don't want one of those equity release schemes. As well as owning our own home my husband has half share in his fathers property which he will inherit when his father is no longer with us and again we would not want anything linked with that. Any experience or advice would be greatly appreciated. :rotfl:

Wh05apk

Provided you either intend to work till 70, and/or have adequate pension income, and equity in your property, it should not be a problem.

2314sadie

Thanks. Not sure we would still want to work until we are 70 value of our property approx 350k and husbands share of his fathers property is 180k so we should be ok in germs of equity. Maybe we should see if we can afford 80k on 10 year term! Thanks again at least I know I can look at lenders:)