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Second property
Jessiepig
Posts: 211 Forumite
My husband and myself are Mortgage free and our house is worth about £400000. We are both in our early 50s.
Two questions can we take out a mortgage to buy a second property, we don’t have any deposit, just our current house.
Or could I take out a mortgage with my daughter and her partner to enable them to buy a property. So there would be three of us on the mortgage
Thank you in advance
Two questions can we take out a mortgage to buy a second property, we don’t have any deposit, just our current house.
Or could I take out a mortgage with my daughter and her partner to enable them to buy a property. So there would be three of us on the mortgage
Thank you in advance
£2 saver club, over £200 now:
1p a day increase saving. Paid up to middle April
:j
1p a day increase saving. Paid up to middle April
:j
0
Comments
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Can you take out a mortgage on your home to buy a second property, yes.
Can you take out a mortgage with your daughter and her partner will three of you on the mortgage, I assume you mean on their home, yes.
There are numerous options and implications here though so professional advice is key.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Why do you need to be on the mortgage for them to buy a property?
Your better off pulling £50K out of your home and gifting it to them so they can buy a place together without any added complications of a third name.0 -
Thank you. I’m just looking at options at the moment to see how I can best help them and wondered if anyone had any good advice£2 saver club, over £200 now:
1p a day increase saving. Paid up to middle April
:j0
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