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First time buyer - parents mortgaging property?
Comments
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Whats the hurry? If your income is set to rise quickly why not wait 12 months and buy independently of your parents? If you've not even started work yet this would be a factor in your success of obtaining a mortgage with or without your parents help."You've been reading SOS when it's just your clock reading 5:05 "0
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If your parents buy it and 'rent' it to you, they'll be liable for income tax on the rental income.0
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Not necessarily a hurry, it just seems to make sense now (if the mortgage is possible). My parents are looking to downsize and have a strong interest in a property. That property would be inconvenient for me to live in with my new job.sammyjammy wrote: »Whats the hurry? If your income is set to rise quickly why not wait 12 months and buy independently of your parents? If you've not even started work yet this would be a factor in your success of obtaining a mortgage with or without your parents help.
However, if it wasn't possible, or was extremely expensive, then we would wait for another year or so.0
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