Buying a property with my sister - first time buyer, lots of questions

summernicole

hi, my sister is trying to get a mortgage with her two children, she has a ccj from 2009. but her credit has been very good since, what are the chances of her getting a mortgage as i have been told most lenders will only have two people on the mortgage.

holly_hobby

summernicole wrote: »

hi, my sister is trying to get a mortgage with her two children, she has a ccj from 2009. but her credit has been very good since, what are the chances of her getting a mortgage as i have been told most lenders will only have two people on the mortgage.

You would be best to start your own thread on this, rather that responses get muddled up with replies for the OPs original question.

But quickly, the info given is much too sparse to give any real assistance.

When you start your own thread for your question, include what the pch price is, with details of how much depost she has, her salary and commitments, together with that of any other applicant. Why, how much and whom registered the CCJ, if its been satisfied and any other adverse before or since of any of the applicants.

Hope this helps

Holly

[Deleted User]

Oh wow, I hadn't been on here for a couple of days, so thanks for those who have posted.

PasturesNew, I appreciate all you are saying, but whilst I am looking at lots of different avenues and scenarios, the only one I can realistically deal with is the one in front of me - my sister, niece and nephew need our help.

I have been happily married to my husband for 20 years, and have no plans to divorce, seperate or even have a major hissy fit.

IF, I lose my job, it won't be the first time and one way or another we will cope, but what I will do is take out appropriate insurances against this mortgage and any potential loss of income.

IF my mother needs financial support to stay in her home or carers, then we will have to sell her property and take it from there, it's a 3 bed house with 2 people living in it, or her husband can support her - I am not being mean, but I can't plan for looking after my mum at this stage - she is only 67 and in good health.

Does everyone else plan for all of life's "what ifs"?

Falling out with my sister - highly unlikely, we've loved and put up with each other and our considerably different personalities without falling out for over 40 years, I think we'll be fine.

As for another fella on the scene - again, I can't plan for that, but if she does get one, I hope that he is the polar opposite of my b-i-l - I think my sister has learned a lifetime of lessons from her pretty unhappy 25 year marriage.

I have now spoken to an independent advisor and he was very helpful, so things are all moving in the right direction.

GMS - we are now seriously considering your suggestion, my OH and I taking out a loan on our property, paying the remainder (approx. 50%) of my sister's new property and treating it as an investment and my sister pays us rent to help pay off the mortgage.

Ganga - thank you x

Clumsymoo - what are you doing on my thread!

Summernicole - I hope you get your sis sorted.

Thanks again for all your posts, help, good wishes and advice.