Can I get a mortgage for my parents?

jeanp

Hello,

I am 35, and my parents are 66 and 64. My father has already retired and my mother is set to next summer.
They have never owned a property due to having dwellings provided with their jobs. With my mother fast approaching her retirement time they are looking to buy.
They were looking at a house for £169,000 and have a £60,000 deposit, but were told by a family friend (a financial advisor) that they would not be able to get more than a 10 year mortgage and that it wasn't possible for me or my siblings to buy it on their behalf as a buy to let.

My questions are...
1. is it possible for them to get an affordable mortgage
and
2. if not how can I help them to buy it?

Many thanks

betmunch

It is possible for siblings to buy a property for parents with the parents providing the deposit, but from memory only 2 providers will do it.

There may be more, its not a common enquiry.

Whether or not you and you sibling can do it specifically is another matter. Speak to a broker to determine your options. Not the one that said no already, you need a mortgage specialist, not an IFA