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Mortgage on parents property

Denison1
Denison1 Posts: 1 Newbie
edited 2 May 2015 at 5:46PM in Mortgages & endowments
I am trying to assist my dad and weighing up equity release v me buying a share of his property. I'm trying to get my head around the costs, tax implications and any other issues that might arise and would appreciate any advice.

Comments

  • dimbo61
    dimbo61 Posts: 13,727 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You are not on the deeds so cannot get a mortgage!
    Your Dads property may well have gone up in value over the last 30 years BUT he still has a mortgage and also needs money to extend the lease.
    Are you buying a share in the property?
    Do you have any brothers or sisters?
    Do you live in the property?
    You will not get a BTL mortgage without first being a homeowner and earning over £25,000 a year
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