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    • mclerne
    • By mclerne 12th Jan 18, 3:42 PM
    • 3Posts
    • 0Thanks
    Mortgage/Equity Release
    • #1
    • 12th Jan 18, 3:42 PM
    Mortgage/Equity Release 12th Jan 18 at 3:42 PM
    About 30 years ago my Mum built an extension, basically a 2 bedroomed house, onto her house for me and my sons to move into. Planning at time wouldn’t allow for 2 separate properties so both parts are classed as one house.
    Sadly my Mum died last year and I have inherited the whole property. Our idea was that my son could move into her house and release some equity so I could have some financial stability. Property has no mortgage.
    Now to decide on best way to do this.
    Life Time Morgages are scaring me slightly as I worry that by the time I die (I am 63) so much Interest will have accumulated that my son will inherit nothing.
    Also wondering if he could get a mortgage and I put a % of house in his name. Is this possible?
    Any advice you could give me?
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