We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
Concessionary purchase - mortgage advisor
AADale
Posts: 1 Newbie
I’m looking into buying a property off my dad using a concessionary purchase. Is it worth spending the money on a mortgage advisor, rates I’ve seen say £99-£1000, or shall I just do a bit of research and approach the banks myself?
Any advice appreciated.
Any advice appreciated.
0
Comments
-
I would have thought that a mortgage broker could help you considerably here. Have you read this article? https://www.blakemorgan.co.uk/bank-of-mum-and-dad-concessionary-purchases/ It mentions the different terminology used by different lenders which can lead to misunderstandings.0
-
We made a concessionary purchase (it wasn’t really because the under value we paid was due to my partner having a beneficial share in the house already but for mortgage purposes it was).
We used a broker and found it really important as some lenders aren’t interested. This could be totally untrue but I was told by my broker that our only options for high street lender with concessionary purchase was nationwide or Halifax0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.2K Banking & Borrowing
- 252.8K Reduce Debt & Boost Income
- 453.2K Spending & Discounts
- 243.2K Work, Benefits & Business
- 597.6K Mortgages, Homes & Bills
- 176.5K Life & Family
- 256.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards