We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
What are my options?
masonj3
Posts: 202 Forumite
Hi
Im a complete novice when it comes to house buying and mortgages etc so please be gentle x
Im 30 and live in private rented accomodation - I am disabled and have recently been told its unlikely I 'll be well enough to ever return to full time work so am in receipt of indefinite disability benefits.
My mom has inherited a property which she simply doesnt want and has suggested that she let me have part of my inheritance early to help me out. The only problem is that the property needs lots of repairs and isnt in the best of areas.
We were thinking it may be better to sell the house as it is and for my mom to obtain a smaller mortgage for a more suitable property which I would pay or for my mom to transfer ownership of the current property to me and for me sell it and try to raise the mortgage giving me complete ownership.
We're not sure which of the two options would be best / easiest or how we would go about it etc or perhaps there may be different options available to us instead??
Just looking for ideas and a nudge in the right direction at this stage
Thanks x
Im a complete novice when it comes to house buying and mortgages etc so please be gentle x
Im 30 and live in private rented accomodation - I am disabled and have recently been told its unlikely I 'll be well enough to ever return to full time work so am in receipt of indefinite disability benefits.
My mom has inherited a property which she simply doesnt want and has suggested that she let me have part of my inheritance early to help me out. The only problem is that the property needs lots of repairs and isnt in the best of areas.
We were thinking it may be better to sell the house as it is and for my mom to obtain a smaller mortgage for a more suitable property which I would pay or for my mom to transfer ownership of the current property to me and for me sell it and try to raise the mortgage giving me complete ownership.
We're not sure which of the two options would be best / easiest or how we would go about it etc or perhaps there may be different options available to us instead??
Just looking for ideas and a nudge in the right direction at this stage
Thanks x
0
Comments
-
**BUMP - Still Need Advice Pls **0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards