Can we move into deceased in-laws home?

NewbieLou_2

moneyistooshorttomention wrote: »

True - and I see your point (edited - ie to deleted post re nice houses across the road that are ready to move into).

But it is what it is and meanwhile you are losing hundreds of £s a month in rent.

So - grit teeth at the house not being what you want and be glad of the chance to get a house (if not your ideal) in your hands. Move in, get it to a reasonable standard and then sell it on in a few years and buy what you really want.

You never know - you might actually come to like the house once its more in your style.

I went to edit that comment but managed to delete instead- doh! Fingers aren't working on this cold morning (plus the baby has had me up since 5am)

The house is a great starter home and if we were looking about we would actually consider it. But the fact it's the in-laws house makes me feel as if I'll never consider it "mine" if you know what I mean? But, doing the house up and showing its true potential then moving in in a few years seems like the most obvious thing to do X

moneyistooshorttomention

I do know exactly what you mean.

I'm still working hard on my recently bought older house. It was an "old lady" house previously, in more old-fashioned style than its age would indicate (as many houses here have styles that are 20-30 years older than they are iyswim). Add the fact I've come from an area where houses (except the very cheapest) are expected to be attractive...but that doesn't seem to be the case here.

So - I'm trying to un-old lady it AND make it contemporary AND bring in my own home area's level of attractiveness to it.

Just a small challenge then:rotfl:

divadee

NewbieLou wrote: »

I went to edit that comment but managed to delete instead- doh! Fingers aren't working on this cold morning (plus the baby has had me up since 5am)

The house is a great starter home and if we were looking about we would actually consider it. But the fact it's the in-laws house makes me feel as if I'll never consider it "mine" if you know what I mean? But, doing the house up and showing its true potential then moving in in a few years seems like the most obvious thing to do X

I know exactly what you mean. My ex husband inherited his nans house and we moved in. I was worried all his family would hate us literally gutting it and starting again. And I was worried ex husband wouldn't want to.

But after being there a couple of years it really was home. It was unrecognisable to what it had been and it always felt like ours. So I would move in at least for a couple of years and see what happens. You probably will grow to love your project home. But with such a low mortgage defo get a mortgage for more (about 60k) and do the work as soon as you can.

Prothet_of_Doom

ViolaLass wrote: »

600 x 24 = 14400. Not sure how that pays a £20k mortgage off in full.

Sorry. I used the MSE mortgage calculator, and was looking at 3 years £582 a month. I thought I'd clicked 2 years and it must have been 3 years. http://www.moneysavingexpert.com/mortgages/mortgage-rate-calculator#results

I can't see that any lender would have a problem with the risk on the loan to equity ratios.
I'd be discussing borrowing £40K over 10 year (less than £400 a month) and using the £20K to make it very nice.

moneyistooshorttomention

Bearing in mind it sounds like its already got a decent new kitchen and bathroom - then I would say £20k over and above the £20k for the mortgage should be enough.

No point in overstretching...

Westbeef

Ask over in the mortgage section about what options you have, there's some great people there and lots of brokers/mortgage advisers .

G_M

and why wait?

No reason not to move in right now (it's go a new bathroom so must be habitable).

OP is Executer and sole Beneficiary, and Probate has been Granted so I can't see anyone objecting!

Then sort out the finance/transfer.

jackomdj

NewbieLou wrote: »

I went to edit that comment but managed to delete instead- doh! Fingers aren't working on this cold morning (plus the baby has had me up since 5am)

Was it cold last night too when you deleted the two posts I quoted?

It is one of my pet hates when people are trying to help and op's delete comments so helpful posts stop making sense.

I think you need to suck it up, move in, sort the mortgage and do it up. Then if you want to move in a few years do, or you may have made it into YOUR family home Nd be happier to live there.

If you still have a bit of time in your rental, use this time to do rooms that need doing urgently, ie babies room (if you have one - can't remember) so the room isn't smelling of paint.

NewbieLou_2

jackomdj wrote: »

Was it cold last night too when you deleted the two posts I quoted?

It is one of my pet hates when people are trying to help and op's delete comments so helpful posts stop making sense.

I think you need to suck it up, move in, sort the mortgage and do it up. Then if you want to move in a few years do, or you may have made it into YOUR family home Nd be happier to live there.

If you still have a bit of time in your rental, use this time to do rooms that need doing urgently, ie babies room (if you have one - can't remember) so the room isn't smelling of paint.

I deleted the posts last night as they added nothing to the thread and even though I edited them they could have still have been interpreted in the wrong way.

Thanks for everyone's advice, much clearer on how we go about the financial side of things.

NewbieLou_2

G_M wrote: »

and why wait?

No reason not to move in right now (it's go a new bathroom so must be habitable).

OP is Executer and sole Beneficiary, and Probate has been Granted so I can't see anyone objecting!

Then sort out the finance/transfer.

Our tenancy runs out in March, so we have a few months left. We'll spend that time sorting out the house and doing all the major jobs. We have made a few calls this morning to make appointments to speak to people about mortgages/loans.

Thanks for your helpful advice x