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Having a mortgage on a property that is not yours

Nathaniel_Essex · 2017-04-19 23:22:39

Curious if this can be done and if so, if it's quite a common occurrence. Dad has poor credit but owns his home which is worth about £300k but has about £50k left on his mortgage. He wants to remortgage the place and pay off the a few debts but because of his age and income, no bank will touch him. As he has poor credit, I…

Comments

getmore4less Posts: 46,882 Forumite

21 April 2017 at 6:09AM

Another much simpler option since you seem to be able to afford the new mortgage
(unless you are expecting your dad to still pay it then that opens up new issues like income tax),

Why not just gift/loan your dad the money

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