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Paying parent's mortgage but not named on it
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3 years lefy. Is this repayment or interest only?0
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WastedJoker wrote: »Repayment. Does that make a difference?
I think the concern was more you having to find the cash at the end of the term.
In reality, for your situation, repayment is by far the best position IMO for this exact reason.💙💛 💔0 -
If only 3 years are left, the amount outstanding can't be massive and you must have about 10% LTV, so effectively a massive "deposit".
I'd bet money that a broker could find you some sort of mortgage, unless you're a bankrupt or something. It might not be at a good APR but you only have 3 years left on it!
As was mentioned, wills can be contested, so it would probably be a good idea for your dad to gift the house to you now, or something like that!
If you become joint tenants, the house is automatically yours when he dies and does not form part of his estate.0
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