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FTB (but technically a home owner) question..
TakeThePieces
Posts: 1 Newbie
First post on MSE!
I'm looking to apply for my first mortgage at some point this year.. Last year my mum transferred ownership of her house to me and my sister. I know that this now excludes me from the help to buy scheme but was wondering if this could help me at all to secure a mortgage?
I'm looking to apply for my first mortgage at some point this year.. Last year my mum transferred ownership of her house to me and my sister. I know that this now excludes me from the help to buy scheme but was wondering if this could help me at all to secure a mortgage?
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Comments
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No. It won't make any difference.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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I disagree, sell the house, split the money with your Sister and use that for the deposit......oh, wait, what to do with your Mother?"Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!0
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Transfering houses to children is rarely a good idea and just increases the potential tax liabilities.0
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