mums house

mummysgirl

My mum is 61, widowed and ownes her own home (mortgage free). I would like to buy her house and leave her to live there rent free, as she has no money and doesn't want to go the equity release route. I don't want to charge her rent, so do i need a buy-to-let mortgage? The house is worth around £70,000. I live and work in Ireland at the moment, but would prefer a mortgage in UK, is that possible?

poppy10_2

mummysgirl wrote: »

I don't want to charge her rent, so do i need a buy-to-let mortgage?

No

mummysgirl wrote: »

The house is worth around £70,000. I live and work in Ireland at the moment, but would prefer a mortgage in UK, is that possible?

Yes .:j

Pobby

Not at all sure about this but wouldn`t your mum be entitled to some form of housing benefit?Of course that would probally be subject to savings.If this was the case surely you could take that benefit as rent to help you with the mortgage.

chappers

Once she buys her mums house her mum probably won't be entitled to any means tested benefits.

jonesMUFCforever

And if she eventually needs nursing home care the sale may be deemed to have deliberately sold the house in order to prevent paying fees for this, so could put a charge on the house or ask you to pay the fees.

Gorgeous_George

Why not just give your mum the equivalent of the mortgage payment each month?

GG

treliac

ejones999 wrote: »

And if she eventually needs nursing home care the sale may be deemed to have deliberately sold the house in order to prevent paying fees for this, so could put a charge on the house or ask you to pay the fees.

Only if she can currently anticipate the need for long term care, which would be unusual at her age, and the sale can be proven to have been made in order to intentionally deprive the council of income. In any case, if she has the profit from the sale (capital in excess of £21,500) she would have to pay for any services she might need anyway.

mummysgirl

Thanks for the advice. We did think that she wouldn't be entitled to means tested benefits with the cash from the sale in her bank. The idea of giving her the mortgage payment each month is an idea, but if she does need any long term care, I would be left with nothing, as the house would still be in her name. We obviously need to seek some advice on the mortgage, and ways of avoiding her losing the money. She could just give it all to me tho!