Getting a mortgage when an elderly person will be living in property

kazza169

Hi all, can anybody offer some advice?

My sister in law was planning to buy her grandmas house off her but allow her to stay with them in order to care for her. But she has been told by her bank that they won't be able to get a mortgage through them as if they were to default on it then they couldn't evict an elderly person.

Is this the case with all mortgage lenders?

Thrugelmir

Yes. Any arrangement that blocks a lender from the ability to repossess the property is a non starter.

kingstreet

kazza169 wrote: »

Hi all, can anybody offer some advice?

My sister in law was planning to buy her grandmas house off her but allow her to stay with them in order to care for her. But she has been told by her bank that they won't be able to get a mortgage through them as if they were to default on it then they couldn't evict an elderly person.

Is this the case with all mortgage lenders?

Speak to an independent broker, I think there are a couple of lenders who may consider this.