Part selling/ part gifting property to our daughter.

Mutabilisrose

MWT said:

K_S said:

@mutabilisrose Apologies if I'm missing the original point of doing this (I'm not entirely clear on what you are trying to achieve). But given the extortionate (for your LTV) Landmark rate you are on, and given the numbers (110k loan, daughter's income 18.5k and your pension income of 12k) you could consider remortgaging and adding her to the mortgage and the deeds. Is that an option at all? Just getting the mortgage down to a more reasonable rate should improve your cashflow.

It might be just about doable with a 13 year term (taking you to 70) and with your husband on the mortgage without income

That looks like a solid proposal.

Given this is an ex-Northern Rock mortgage I did wonder if the FCA 'Mortgage Prisoner' rules might help, but I don't think you can add someone to the mortgage if going down that route?

I am actually in mortgage prisoners but I have no idea how that affects things.

MWT

Mutabilisrose said:

I am actually in mortgage prisoners but I have no idea how that affects things.

There is a good description here:

https://www.moneysavingexpert.com/news/2020/11/west-brom-mortgage-prisoner-freed/