Could anyone advise please!

mulletdreamer

Hi I don't think my situation is particularly straight forward - for a while I've wondered if you good people could offer me any guidance...I'll keep it brief, I owe about £49000 mortgage and £12000 personal debt. House may be worth VERY ROUGHLY about £90000.My two adult sons live with me paying board. I would like to buy a property with my girlfriend. My sons would like to continue living in the house. Would my girlfriend and I have any hope whatsoever of getting a mortgage? (£100000 being the very top, more likely around £90000). I plan to sell the house at some stage but if possible they would prefer to stay in it at the moment. I'm fifty five, girlfriend is fifty. She is selling her house now her kids are grown and ex wants his cut. Again, very roughly she should come of of that with about £50000. Would we have any hope of achieving there aims?

ACG

There are a couple of ways of doing this, firstly would be to put your mortgage on a buy to let, meaning your income would not have to cover the existing property and the new one (assuming the board/rent would cover the new mortgage payments).

The other way would be for your partner to purchase it in her sole name, assuming her income supports it.

There may be other ways but based on what you have said it should be possible. Might be worth sitting down with a broker to find the best way for you?