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Adding parents to mortgage calculation
DaveY124
Posts: 2 Newbie
Can a parent or step-parents income be used to calculate the amount of mortgage you can obtain? What are the pitfalls of being added as a parent/step-parent if their salary is used to increase the amount of mortgage you can borrow?
0
Comments
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are they going to be living in the property?
do they already own a property? (+ 3% SDLT)
how old are they? - could reduce the duration which would mean higher repayments0 -
They would be on the mortgage and be liable? They'd part own the property? As stated above, possible stamp duty uplift? Reduce term of mortgage due to their age? Link your credit file to theirs.
So many things to consider.0
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