Advice Please

NewHomeOwner_2

Could someone offer advice on if the below is possible? And if so what the best way to go about it is?

Is it possible to buy a house jointly with your parents where they own 50% and my sister owns 50%. But they put their 50% down as cash but my sister gets a mortgage for her 50%?

For example if the house cost £200,000 could my parents put down £100,000 as cash and my sister get a mortgage for £100,000? Would the £100,000 that my parents put down as cash be classed as the deposit for the mortgage?

Basically my sister can't afford the mortgage herself and my parents are seeing this as an investment. They aren't however gifting the money so want to own 50% on paper.

Thanks!

ACG

Typically whoever is on the deeds would need to be on the mortgage.

NewHomeOwner_2

Ok so they put down the £100,000 'deposit' and all 3 apply for the mortgage for the other £100,000? And on the house deeds they put it down as a 50/50 split?

Is this the best/only way to do it?

Thank you so much for your help