Other means of being added to a mortgage e.g. will

Jojo3176

Hi

My mother would like me to help pay off her existing mortgage.
She is also happy for me to be added to the existing mortgage.
The building society are taking this into consideration although it maybe unlikely due to my existing financial commitments.
Nevertheless, I wanted to know if being added to my mothers will in terms of the property (also my childhood home) would be another means of ensuring that the payments being made by me are secured.
I have siblings but i am the only one who is able to help my mother financially.

If you have any useful tips/advice please let me know.

kingstreet

Please clarify what you are trying to achieve.

What does;-

another means of ensuring that the payments being made by me are secured

mean?

Being added to a mortgage doesn't secure any element of ownership in a property. That requires a transfer of equity, which means you become party to the mortgage and the ownership.

If you are merely trying to obtain a larger share in your mother's estate, ask her to alter her will accordingly.

davidmcn

And if all you want to do is help her pay her mortgage, then just give her some money!

Jojo3176

Thanks. I see. Sorry this is an area that i am only just becoming familiar with.
It looks as though i would need her to amend her will therefore as if i am not able to be added to the property deed, this would be the only other option.
I just want to ensure that having helped pay off the mortgage (which my siblings are unable to do) at the end of the term, I have some form of 'security' and or 'entitlement' as when the need arises.

Thrugelmir

Give your mother the money as a loan. The loan then being repaid on her death or sale of the property. Would need to be properly and fully documented.