Parents getting mortgage for children?

normalforumuser

Hi everyone, new to the forum here and new to this whole mortgage thing so bare with me here pls...

as the title says, generally speaking without going into too much detail can my parents get a residential mortgage in their name only for me and my wife (and ofc for parents to live in aswell whenever they choose)?

does it matter that the property in question is in another region/city to where my parents are currently working/living as the property would be where me and my wife currently work/live?

i am currently renting at the mo and long story short we are in a bit of a hurry to move out for certain reasons as also i currently work for myself (just started) and my wife is only settling into her new job (we are still quite young). ofc we will help out with saving the deposit and paying the mortgage every month as my parents will not be paying a dime. could someone pls advise on the "feasibility" of this being successful etc?

thanks

HappyHarry

There's no reason, beyond affordability, why your parents couldn't buy a second property and let you live in it / rent it.

Just to check - are you aware that this is a UK forum? Some of your post suggests that you may not be UK based.

normalforumuser

HappyHarry wrote: »

There's no reason, beyond affordability, why your parents couldn't buy a second property and let you live in it / rent it.

Just to check - are you aware that this is a UK forum? Some of your post suggests that you may not be UK based.

thanks, i am uk based. i was concerned with whether lenders would question why my parents are wanting to buy another property somewhere else but your answer suggests that this isn't relevant. however, if my parents say that the property is for me and my wife to live in will the lender start to bring into the equation my own and my wife's personal life/finances as well? will there be more stringent checks as the main occupants of the property (me and my wife) will be living there?

normalforumuser

HappyHarry wrote: »

There's no reason, beyond affordability, why your parents couldn't buy a second property and let you live in it / rent it.

Just to check - are you aware that this is a UK forum? Some of your post suggests that you may not be UK based.

thanks, i am uk based. i was concerned with whether lenders would question why my parents are wanting to buy another property somewhere else but your answer suggests that this isn't relevant. however, if my parents say that the property is for me and my wife to live in will the lender start to bring into the equation my own and my wife's personal life/finances as well? will there be more stringent checks as the main occupants of the property (me and my wife) will be living there?