mortgage for dependent relatives property

Happytosave

Is there a product for dependent relatives -i.e. parents living in a house? They will not pay rent to us - my brother and I who are buying the house. It will only be about 40% mortgage.

kingstreet

Yep.

Mortgage for second property for a family member to occupy. It'll be based on your incomes and your own mortgages and personal outgoings will also be taken into account in calculating affordability.

Happytosave

kingstreet wrote: »

Yep.

Mortgage for second property for a family member to occupy. It'll be based on your incomes and your own mortgages and personal outgoings will also be taken into account in calculating affordability.

Thanks. Do you know any lenders which do this?

kingstreet

Yes. It's my job to know the potential lenders for such a case. However I'm unable and unwilling to provide such information here.

You'll need to appoint a broker to establish the options for you. Ask friends and relatives for a broker recommendation if you don't have someone in mind.