What have I done?!?!?

neverdespairgirl

sammiea1976 wrote: »

I know they sound like silly reasons but they are my reasons and i really want him to be happy ya know? xx

Your family, your choice, of course!

I was just making a suggestion, hope it didn't offend you.

AMILLIONDOLLARS

Im so scared now that we wont sell this house and we will be paying this huge mortgage for a couple of years and it will skint us, i dont work as having recently had baby end of last year and now recently pregnant again, fella has own business and earns good money but god its gonna skint us if we cant sell this place[quote/].

AMIlliondollars - The remortgage is in my dads name and the new mortgage is in my dads name and my name and my dads name is on the deeds, not my partners. My partner is totally fine with this, he does not expect to be on the deeds as its my inheritence[quote/].

Your first post implied that you and your partner would be paying for this additonal loan, your second reply indicates that everything will be done between your and your dad. Who will be paying for the additional loan ,
If its your partner, you will certainly need some agreement between you. Its ok saying that he is not fussed, but when it comes down to it, if you were to break up, he would be singing a different tune!!

AMD

neas

sammiea1976 wrote: »

Yes daddy did give me my inheritence early the same as he did my other 5 brothers and sisters, but hes telling me the whole point of the my inheritence was to live mortgage free and now im getting us into debt.

Your missing the point you say you and your 5 other siblings all gor your inheritance early. Nobody else have IQ?

6 Children... Each receiving 250,000 pounds
Totalling 1.5 Million Pounds inhertiance GIVEN early.

Your father... is now forced to mortgage HIS property for 180,000 pounds when he just gave away 1,500,000 pounds....

Doesn't add up... Am i the only one who thinks ?

The whole "Daddy" blargh adds more weight to the argument.

AMILLIONDOLLARS

sammiea1976 wrote: »

The house isnt in my name (the one we are in now) so the equity will be my dads. Whats LTV?

The new house the small mortgage will be in my dads name, and my name and my dads will be on the deeds - my partners name will not be on anything - i have been stung like that before! I married young, i fronted the deposit for our new house from savings, we split as he was a drug addict and an abuser, i fled with our son who was 1 at the time (now 6) and the a$$ hole is still living in the house that i put all my money into! And to this day the whole thing is still ongoing in court! So yeah you could say i have been burnt before which is why i am never going to be burnt again!! And my partner who i have been with 4 years is totally fine with that.

Just a quick question, who's paying the mortgage on your old house if your ex is an addict? I assume that you've gone to court because you want it sold to get your money back.

AMD

sammiea1976

neverdespairgirl wrote: »

Your family, your choice, of course!

I was just making a suggestion, hope it didn't offend you.

Hey hun, No you didnt offend me at all!

sammiea1976

AMILLIONDOLLARS wrote: »

Im so scared now that we wont sell this house and we will be paying this huge mortgage for a couple of years and it will skint us, i dont work as having recently had baby end of last year and now recently pregnant again, fella has own business and earns good money but god its gonna skint us if we cant sell this place[quote/].

AMIlliondollars - The remortgage is in my dads name and the new mortgage is in my dads name and my name and my dads name is on the deeds, not my partners. My partner is totally fine with this, he does not expect to be on the deeds as its my inheritence[quote/].

Your first post implied that you and your partner would be paying for this additonal loan, your second reply indicates that everything will be done between your and your dad. Who will be paying for the additional loan ,
If its your partner, you will certainly need some agreement between you. Its ok saying that he is not fussed, but when it comes down to it, if you were to break up, he would be singing a different tune!!

AMD

Right the mortgage is in my dads name, the deeds are in my dad and miy name - my dad will technically be paying the mortgage as we tried to get the standing order to come out of my account but the Mortgage people wouldnt have it as my name wasnt on the mortgage, so the standing order will come out of my dads account each month and we will then have a standing order set up from my account to go to my dads account each month before the mortgage comes out - see what i mean? Me and my partner will be paying the mortgage, but it will be coming out of my dads account.

sammiea1976

neas wrote: »

Your missing the point you say you and your 5 other siblings all gor your inheritance early. Nobody else have IQ?

6 Children... Each receiving 250,000 pounds
Totalling 1.5 Million Pounds inhertiance GIVEN early.

Your father... is now forced to mortgage HIS property for 180,000 pounds when he just gave away 1,500,000 pounds....

Doesn't add up... Am i the only one who thinks ?

The whole "Daddy" blargh adds more weight to the argument.

He has given us all £250,000 to buy a property. My older brother already had a property with a mortgage, he sold his property got a bigger house £350,000 put his £250 inheritance towards it and the rest was from the sale of the house. I am kinda doing the same with the new house, but sadly my house is now not worth as much as it was last year, so i am having to get a mortgage!
My dad isnt forced to get a mortgage, he has the money to give me outright but he doesnt see why he should, his arguement is 1) he thinks im silly moving 2) if i want to move wait at least a year to see what happens with the market 3) he already given me £250,000 it was my choice how it was spent 4) his money is tied up in isas 5) he helped my sis and her husband out the same way lending them £90,000 and he still hasnt got it back as they havent sold their other home yet!!

All valid reasons, so he said that if i really want to do it he would remortage and mortgage, the remortgage would only be for a short time as the house would sell hopefully pretty soon and then that would pay the remortgage, then we would only be left with a £45,000 or less mortgage on the other place, which we could pay off pretty soon.

Why would i have any reason to lie?? I am tellng you like it is, as i have said before i just wanted some advice!

oneandonlyboy

To be honest, im not sure why you asking on here, as either way your dad will help you out. OK it might not be the way you want it, but thats what he has offered you either take it or dont.

If your partner's income is so good then a loan for 45K over 10 years would be a better option than a mortgage.

If your dad can give out millions then 45K is small fry.

neas

It doesn't make any logical sense for any SANE person to get a mortgage when they dont need to.... Honestly lets pay 7% ON 200K... or just not pay 7% :P.

Conrad

A chap I know of has a home bought with parental money and as a result I hear people making snide comments behind his back. He would have been well advised to have kept his extraordinary good fortune to himself.

The point is most people face a never ending drudge of working to pay the mortgage, so it kinda rubs thier nose in it when someone they know sings with glee about thier own stroke of good fortune. Jealousy I'm afraid.

You can perhaps imagine someone you know behind your back saying something along the lines of "Jeeze, she thinks she has problems, try living my life with just the same problems AND A WALL OF DEBT AROUND YER NECK"