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Joint Mortgage with Daughter
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MARY640
Posts: 5 Forumite
Hi, after some advice please. I am in the process of selling my home due to separation. I am looking to buy a new build home, however on my salary alone I am unable to get the mortgage amount I need. I was thinking about adding my daughter onto the mortgage to increase the amount I could borrow.
When the time comes for her to buy her own property (probably 3 years time) I know I would have to remortgage to get her name taken off the mortgage. My question is what would she be losing out on as she would not longer be classed as a first time buyer?
Thanks
When the time comes for her to buy her own property (probably 3 years time) I know I would have to remortgage to get her name taken off the mortgage. My question is what would she be losing out on as she would not longer be classed as a first time buyer?
Thanks
0
Comments
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There are joint borrower sole proprietor mortgage products that preserve her FTB status.
What happens if you can't change the mortgage to just you when she is ready to buy.
Could be a trap.1
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