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Remortgage to buy a second home

Scarroll
Scarroll Posts: 2 Newbie
in Mortgages & endowments
I have a house which is fully paid for ,worth about £240.000 I would like to help my daughter buy her first home. But she cannot get enough mortgage for £110.000 how can I help her.

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Downsize and release equity?
  • GMS
    GMS Posts: 5,388 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Why can't your daughter borrow what she wants? Is it down to affordability?

    Do you have an income? If so you may be able to raise finance against your property to gift to her.
    I am a Mortgage Adviser
    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.
  • Scarroll
    Scarroll Posts: 2 Newbie
    i have an income,so i was wondering if we should get the mortgage together with me acting like a sponsor
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