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Mortgage Interest Only-Advice Needed for My Parents
Comments
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hi kasbah
speak to a mortgage broker who can gather more information regard the situation and should be able to help from there
Regards IanI am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, feel free to check our website for our registered number. 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.0 -
If you want to help them, then find an experienced mortgage broker to sit down and collect all the detailed information to enable a sensible recommendation on the best way forward.
A £400 rental on a £120,000 asset seems like madness to me - and there are dozens of potential pitfalls in the arrangements as described.
Professional advice as soon as possible.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
surprised the council let them have social housing if own a houseDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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Hi can anybody please help? I have recently gone on my partners mortgage after paying off his ex and the house is now in both our names. he has only ever been on an interest only mortgage and has 15 years left (he is 58 I am 55 now). obviously we will not be In a position to pay off the 96000 at the end of the mortgage and the lender does not deal with mortgages anymore so therefore cannot change us over to a repayment. we have had a mortgage bloke look at helping us but he says he cant help. PLEASE where do I turn now? in desperation. Joan0
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Hi can anybody please help? I have recently gone on my partners mortgage after paying off his ex and the house is now in both our names. he has only ever been on an interest only mortgage and has 15 years left (he is 58 I am 55 now). obviously we will not be In a position to pay off the 96000 at the end of the mortgage and the lender does not deal with mortgages anymore so therefore cannot change us over to a repayment. we have had a mortgage bloke look at helping us but he says he cant help. PLEASE where do I turn now? in desperation. Joan
Welcome to the forum. I suggest that you start a new thread. Then you'll receive far more responses to your questions. Tagging onto an existing one merely creates confusion. :beer:0
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