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Mortgage for tenants in common
TLC14
Posts: 1 Newbie
Hi all,
My mum is nearing retirement and the term on her mortgage but hasn't paid off a chunk of equity. Is it possible for me (and sibling) to be added as tenants in common to mortgage and for the two of us to take out a mortgage on her behalf? This seems like a safer option than a lifetime mortgage for protecting our inheritance but not sure lenders will lend for any longer is my mum is still part owner?
Many thanks
My mum is nearing retirement and the term on her mortgage but hasn't paid off a chunk of equity. Is it possible for me (and sibling) to be added as tenants in common to mortgage and for the two of us to take out a mortgage on her behalf? This seems like a safer option than a lifetime mortgage for protecting our inheritance but not sure lenders will lend for any longer is my mum is still part owner?
Many thanks
1
Comments
-
When you say a chunk of equity. Is the mortgage currently on an interest only basis?1
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