Mortgage for 3 people

APKB

Hi there,

We found an amazing house and we’re trying to look at options that will help us with both a deposit as well as mortgage. Myself and my wife both work, but we still can’t meet the level of mortgage we need to purchase. Is there an option to also look to include my mother-in-law who has a good deposit, but is retired and receiving a fairly good pension. The deposit between us would lower the mortgage value, but not sufficiently to base it just on mine and my partners salary... I’m not even sure any of that makes sense to you, but in my head it does!! Any thoughts on whether this would be a potential avenue?

Regards, Andrew.

ACG

It makes sense, butt he problem you will likely come up against is the mother in laws age.

Most lenders top out at around 75-85 so that may mean the term is reduced making affordability harder to pass.
Very few lenders will allow more than 2 incomes even if they allow 3 applicants.

There is more information needed, but your options a slim. You probably need to speak to a broker really to talk everything through.