Is it possible??

wooders

Hello, I'm looking for a little bit of advice...


Circumstances are;
My Sister lives in a 2 bed terrace in Yorkshire in a house bought cash by her father in law 3 years ago.
The deal was that they would save up a deposit in 5 years to get a mortgage and buy it from him.


now my part....


I will be looking to move back up north in approx. 10years, I've had an early discussion about buying the house and allowing them to stay there, pay me rent until
A. they want to move (likely to be in next 3 yrs as now +1)
B. I want to move in


The cost of the house is reasonably low.


other complications... I have a fairly well paid job, but I don't live or own my house in London, I rent.....


Bearing in mind I'm likely to move into this house can I get a standard mortgage? or would I be bound to have a buy to Let + complications of family involvement.


I am aware of the FAMILY WARNINGS so please don't reply DONT DO IT etc


thankyou

ACG

It would be classed as a regulated BTL. That in itself should not be a problem, however...
1) They usually base the affordability on your income - expenses (not the rental income),
2) I only know of 2-3 lenders who do them, so your options are going to be very limited.

wooders

reposted elsewhere do not reply to thankyou