Buying house with parents

MWT

egadsby said:

Again, thanks for contributing - I am now in touch with a broker. 

Good decision, and do please let us know how it goes as your experience can inform others considering the same path..

tigerlily74

Hi, how did you get on? We are in the process of trying to do exactly the same thing except we are porting our mortgage from our property to the new property, the lender (nationwide) have said she can’t be on the mortgage or the deeds (they say two people max) so it has to be a gift, but have not raised any concerns about her moving in. All the threads saying no lender would be happy with this is making me worried it will become an issue when we are well underway with the process. Our application went in yesterday, we were told to give a gifted deposit form which we did, and she will have to give consent to mortgage through the solicitor. Our solicitor has said many lenders won’t be happy, which again has made me concerned as Nationwide seem fine with it so far. Our mortgage would be 90k, we have 80ish from our sale and the rest is coming from my mum’s sale, the property we are purchasing is 500k. We could have got a smaller house and gone mortgage free but we fell in love with this and now I am stressing out. I wanted to stick with Nationwide to avoid the ERC on our fixed term.