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Buying from a relative
Sherryjayne
Posts: 2 Newbie
My son wants to buy my bungalow but the bank have a policy where they won't give a 95 % mortgage. Are there any lenders that don't have this policy and will treat my son the same as anyone else
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Comments
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Are you selling at market value or at a discount?0
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Where are you going to live?
What is the source of the deposit?
Does your son own any other property? If yes, what is happening to it and where does he plan to live?
Who is "the bank?"I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Lloyds bank0
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Sherryjayne wrote: »My son wants to buy my bungalow but the bank have a policy where they won't give a 95 % mortgage. Are there any lenders that don't have this policy and will treat my son the same as anyone else
Your son probably isn't being treated any differently. Simply doesn't meet the required criteria.0 -
Contemptuous wrote: »And answers to the other questions?
My guess is sherry.0
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