Mortgage/Loan Advice

thares7

At the moment were just trying to sort out a situation but fallen on a hurdle and wondering if anyone can advice the best way to go. My Parents live in a 2 bedroom bungalow and myself and wife live in a 3 bedroom house with a family. We have been talking about my parents getting a loan (for home improvements) and go into the loft cavity (as many others have in the area) and add 4 bedrooms and bathroom and after they have converted the upstairs myself and wife will sell our house and buy theirs so we can look after them in old age. The problem we have come across i that we can not get any credit because our current mortgage but when parents applied for a loan the got turned down on the home improvement loans as they dont have a mortgage (own outright). The other issue we have is we have enough equity in our house to pay half the loan looking around 30,000 but wanted to pay the laon off straight away after we moved in but on all loans it warns off a early exit fee on loans of this size. Im sorry if im confusing people as im confusing myself. Is there any other avenues to go down?

termhero

I'm not entirely sure I follow but....

Is it possible to sell your property, move to a static in your parents garden, buy their property whilst holding back enough funds to do the work?