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Gifted deposit mortgage advice desperately needed please!
Comments
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So I am understanding this there is no mortgage you are currently staying in?
Your parents have taken the equity out their property to purchase your property for you and now you want to take a mortgage out to purchase that property and repay them the loan they originally gave you?I am a Mortgage & Protection Broker
MSE doesn't check my status so you have to take my word for it. Any information posted is for discussion only and should not be seen as advice. I am FCA Registered, registration details available on request.0 -
The monies you pay your parents technically amounts to rent in their hands. The fact that it covers the mortgage payments doesn't matter.
Before obtaining a mortgage your signature suggests that you may need to address your debts. Not least that a lender may feel that you are using a back door approach to obtain a consolidation loan.0
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