Mortgage & Debt Help

Grizza

This is a difficult situation, but hopefully someone can give me advice.
My mother has a Bunglow which has an outstanding mortgage of about £240,000. The Bunglow is worth about £370,000. She is 77 and retiring. All she will get is a State Pension, so I am more than happy to carry on with the mortgage repayments, however I have debts of about £40,000 which I would like to clear. I have a bad credit history due to this, but what I would like to do is 'borrow' against the house to repay the debts, leaving me to just pay the mortgage and secured loan.
I earn £50,000 a year, so I wouldn't get a mortgage to cover this amount, or have the credit history!
If I can't do anything, any ideas how I can help my mother to cover the outstanding mortgage?

-taff

Sell the bungalow and downsize or she could look at a lifetime interest sale

Yorkie1

I can't see your plan to get a mortgage on the property working out:
a) you don't seem to be an owner
b) even if you were, you'd need to apply jointly with your mum - whose age would probably preclude any mortgage anyway
c) even if you were an owner and your mum was younger, your debt situation is likely to be adversely affect your application anyway.

What were your mum's original plans to repay the mortgage? Is it an interest-only product?