Mortgage with parents

zccax77

My parents own an unencumbered property worth £1.8-£2m, however they have very little earnt income (sub £10k pa).

I have no property or loans, earn £95k salary and £35k bonus. My parents are willing to put me onto the deeds of the property and they would like to co-own with me.

Is there anyway I can mortgage the property to extract funds to invest in carry trade? If so, what kind of mortgage and size (would like x4.5) am I likely to get and at what APR?

TIA

buglawton

Sounds like you already work in the financial industry and should already know some answers to a question like this.

TrickyDicky101

You need to take professional advice on this as any such transaction involves significant potential IHT and CGT consequences given the high value of the property.

kingstreet

They wish to co-own with you, but how will they feel about being party to the mortgage?

What are their ages? Will the mortgage term pass a lender's likely age-cut off point, 75?

Finally, a remortgage of an unencumbered property for business capital injection isn't going to see lenders queuing up for the business.

Speak to a competent broker about the fine detail of what you want to do to see if it is feasible.