Advice on mortgage - tricky situation

Dirty_berty_2

Hi. New here so please go easy on me

I'd like to buy my first flat soon. Likely to cost around £200k. I have £40k for the deposit. However a slight issue is I'm listed as a joint owner on a mortgage with my brother and father for a house that my father lives in.

Because he's retired he couldn't get a mortgage without me and my brother being on it too (as a guarantor). I've never had to and never will have to make any repayments but it's a residential mortgage for £200k (the property is now worth about £400k.

What are my options? Am I able to get a resedential mortgage just under my name for a new flat that I intend to live in?

Any advice is greatly appreciated.

Thrugelmir

Dirty_berty wrote: »

I've never had to and never will have to make any repayments

What you think has no bearing. You have a legal liability. This is what lenders will consider. Therefore this will factored into affordability calculations. The fact cannot simply be ignored. Not how the world works I'm afraid to say.