Mortgages and elderly relatives advice sought

exmachina

Or 'don't post on a public forum unless you can handle a variety of responses'.

No, it's incredibly irritating having the topic derailed by people who 'think' they understand the whole situation. I simply asked a set of questions regarding mortgages to which I hoped for responses.

Maybe I'm thinking of the grandchildren...

Alter_ego

If they want to sell the property, why don't you buy it? Everybody happy then.

scaredlady

Who may be lumbered with a house they don't want either.
If your parents wish to sell up and move somewhere smaller, and release some equity unfortunately it is entirely up to them.
Maybe the upkeep of the house and garden is too much for them.
We are approaching this point ,stairs are difficult and the garden is way too big.
Please let them do what they want to do in their old age.
It reads as though it is you who wants them to stay there, which will ultimately make them very unhappy and uncomfortable.

Annisele

It's hard to advise when we don't know what the actual goal is.

You said your parents *want* to sell - so advice to try to prevent the sale seems somewhat underhand.

I can think of several possible scenarios:

• Your parents want to stay in their house, but they also want a cash lump sum. In that case, the problem is about how to get money to your parents - and solutions might include a gift from you, or equity release forthem.
• Your parents want to sell, but only because the house is too much for them - otherwise they'd love to stay. In that case, solutions might include paying for cleaners or gardeners.
• Your parents really do want to sell (as you said), but you want to keep the house in the family. In that case, solutions might include how you can raise enough money to buy the house yourself.

Of course there are many more - I'm just trying to illustrate the (in my view) impossiblity of giving you a sensible answer. I think GM's "why do they want to sell" was an excellent first question...

exmachina

I think GM's "why do they want to sell" was an excellent first question...

No, it wasn't, that question was an appeal to emotion and not based on the actual questions regarding the mortgage.

I'm wanting to keep the property for the sake of the numerous grandchildren because I'm very concerned for their future given the social cleansing policies of the current government.

tomtontom

exmachina wrote: »

No, it wasn't, that question was an appeal to emotion and not based on the actual questions regarding the mortgage.

I'm wanting to keep the property for the sake of the numerous grandchildren because I'm very concerned for their future given the social cleansing policies of the current government.

But you state in your first post that they want to sell. Why not let them do so and enjoy the rewards of their savings?

Given your own financial situation I doubt very much that your children should be concerned about so called "social cleansing"!

Cheeky_Monkey

Troll, troll, troll

Alternatively ....... Vulture, vulture, vulture

Oh and by the way, I don't give a t*ss what you think of my post

comeandgo

In a few years we will be in your parents situation, well nearly, we will be mortgage free and will sell, downsize and go on holidays with the equity released. I'd hate to think my children were hoping I'd forgo my holidays just to leave something for their children.

pol-zeath

Excuse me but what happened to the "be nice to new posters"?

Pixie5740

pol-zeath wrote: »

Excuse me but what happened to the "be nice to new posters"?

I think that went out the window when the OP was rude to G_M and started throwing her toys out the pram when posters asked some perfectly reasonable questions such as why do the OP's parents want to sell?