How to help parents to buy a property

Ilovelenny

My parents in law are looking to move closer to us. They no longer have a mortgage and believe their property to be worth £175k. Properties where we live start around £200k so they need £25-30k mortgage . Due to them both being +70 years old getting a mortgage could be difficult. They do have savings of approx £20k but they don't want to be left with nothing in the bank. My husband and I were wondering if we or he could get a mortgage for £30k? Is this something that could be done or does anyone have any suggestions on how we could help them. 

MovingForwards

If they have private pensions on top of the state pension they could potentially get a mortgage.
Speak with a good broker.
@Deleted_User has clients who are older / retired and he has obtained mortgages for them.

You could potentially get a mortgage for the difference, awkward thing is 2nd home SDLT for you and not living in the property.
Again, a good broker would be required, they could potentially look at joint borrower, sole proprietor mortgages.

Another option is you raise the money on your property, do a private mortgage to your parents, repayable on the passing of the second parent. All legal, works the same as a normal mortgage, solicitor would draw up the terms and register it on the property.

Many of us have used brokers who post on MSE, you can approach them, they cannot approach you.