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Joint mortgage with my son
soworriedandafraid
Posts: 9 Forumite
I own my house but I am going to sell it to pay off my debt (50000) on credit cards. I will have enough left to go and buy a house with my son half and half. My half with the rest of the cash from my house.My question is will they take into account my previous debts which I have never defaulted on when considering his mortgage for the other half of the property?
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Comments
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There will be no 'his mortgage' if you are both on the title to the property - the mortgage would need to be held jointly between you and your son and each of you would be responsible for all of the mortgage debt. Thus, your credit circumstances will impact on the mortgage application.0
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