Bit of a random question, hoping this is the right board and that someone can help me.
My parents bought a lovely house in my home town - it was meant to be a holiday home for them but they are now going abroad full time.
The house has 56k left on it's mortgage and is valued at around 110k.
Dad has mentioned to me that I could 'take over' the mortgage, to save selling it and keep it in the family etc.
The monthly payment is rather small and there are only 11 years left on the term.
Now this is somewhere I could happily live and can afford the bills etc and it appears cheap in terms of other bills.
How would this work? How would they sell it to me for the amount left on the mortgage?
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Mortgage transferring HELP PLEASE!
4 replies
ilikebaking · 10/05/2015 13:12
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