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Topic Closed
PiggyBankShaker
Posts: 1,164 Forumite
Topic closed. Thanks.
- Mortgage over-payments to date: = £16,746
- Original redemption date: August 2043
- Current redemption date: July 2041
- Debt: £15,930
- Savings: £12,430
0
Comments
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Consider an Offset mortgage with YBS.
Friends and Family.
You take out an offset mortgage to buy your dream house and when Dad sells his home He can open an Offset account in his name but offsetting your mortgage.
He has control of His money and can enjoy the equity he has built up over the years and have a nice car, holidays, etcDad lives in the annex rent free and you pay less Interest and more Repayment each month.
If Dad sells his home and needs care they may ask what he did with £250,000 !
If he has spent it over a period of time Enjoying life then little the council can do.0 -
Offset is a brilliant idea, which I hadn't thought of. Thank you so much for that.dimbo61 said:Consider an Offset mortgage with YBS.
Friends and Family.
You take out an offset mortgage to buy your dream house and when Dad sells his home He can open an Offset account in his name but offsetting your mortgage.
He has control of His money and can enjoy the equity he has built up over the years and have a nice car, holidays, etcDad lives in the annex rent free and you pay less Interest and more Repayment each month.
If Dad sells his home and needs care they may ask what he did with £250,000 !
If he has spent it over a period of time Enjoying life then little the council can do.- Mortgage over-payments to date: = £16,746
- Original redemption date: August 2043
- Current redemption date: July 2041
- Debt: £15,930
- Savings: £12,430
0
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