Rtb

lindauk1

I am currently going through rtb i am the tenant with discount my son lived here all his life but is on application so i am finding difficult get mortgage but hsbc has said my son can get mortgage on his own but we will both be on deeds is it possible

FtbDreaming

are you struggling to get a mortgage because of your income? If your son goes on it with you then when he wants to leave home and one day buy his own place he will have lost all his ftb incentives and may need to sell your house in order to not have to pay stamp duty on a 2nd home. It needs seriously thinking through for both your own security and your sons long term benefit. 

And if youre struggling to get a mortgage based on income then you may be better staying renting because if you hit times of hardship you can get housing benefit. If you own the house you wont be able to get help towards the mortgage. 

lindauk1

Well im struggling because my age my son was born in this house and loves it here he lives with me with girlfriend child now and will not but me in home as i have 7 other children he is my carer now but all i want is we can buy it so one day he can carry on living here when im gone but for some reason council wont allow the mortgagein his name only i was told by the advisors that it is allowed as long as botb name on deeds

[Deleted User]

lindauk1 said:

Well im struggling because my age my son was born in this house and loves it here he lives with me with girlfriend child now and will not but me in home as i have 7 other children he is my carer now but all i want is we can buy it so one day he can carry on living here when im gone but for some reason council wont allow the mortgagein his name only i was told by the advisors that it is allowed as long as botb name on deeds

It's because you're the tenant, the discount being used to purchase the property is yours so to get the tenant is has to be you who purchases the property.  Your son, as an adult who has lived with you for at least the past 12 month, can come along for the ride but ultimately you have to buy the property.

lindauk1

I was told any family member can vive you money at end of day still my house

[Deleted User]

But he's not giving you his money 

ACG

There are lenders out there who will ignore your age if your income is not needed.
Speak to a broker. 

lindauk1

Okay tyvm will try that 

lindauk1

The difficulty is that my son approved mortgage hsbc the only lender to accept this and we both on deeds so will be owned by both of us the council do not believe it's possible so got get letter of hsbc to prove this