Sell my house to my kids?

Annisele

Spacechimp wrote: »

@Annisele The first point was that my girlfriend and I give all of our savings to MGF, who would in turn use them to pay his mortgage. His mortgage would be down to the last 5% or so and our continued rent would cover that completely, with plenty left even after bills.

But if you do that, you won't have a mortgage - he will. It'll be a smaller mortgage, but it'll still be his and not yours.

I think you should just carry on as you are. Anything else I can think of just complicates matters for very little benefit, particularly as he plans to sell in a year anyway.

Is there any particular reason he can't sell now? Trying to keep a house that he can't afford for just one more year seems to make his life unnecessarily difficult.

Spacechimp

No there's no reason he can't move sooner. We're all looking at various properties but we have to wait to move until we all have somewhere to move to which I imagine will take a year or more as that's what i've been told by friends and family.

Although my girlfriend and I could afford the mortgage on this house if he moved out I doubt the lenders would allow us enough to buy it, which would be the other option.

I guess we're just getting itchy waiting for everything to happen.

Thanks everyone for your help, for now I think we'll just keep things as they are and try to be more patient.