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Advice needed on moving my gran.

(4 Posts)
wonderstuff Fri 23-Nov-12 12:26:29

My grandmother and great uncle live together, they are both very frail and their current house is not suitable anymore. The house was brought by by great grandparents and they are very emotionally attached to it - it was their childhood home, but they are now unable to manage stairs, meaning that they are unable to get in and out of the house - it is also about a 90min drive from me, my father and my db, and we are their only close family (their is no family near them at all).

We would like them to move to sheltered acc. near to us - have seen a 2bed bungalow that would be perfect. I want to know if there is anyway we can move them and then sell the house later - it is in no state for sale atm - very cluttered, bit dirty (she keeps firing her cleaner) Would be good to have a month to clean, declutter and do jobs needed to get best sale price.

The house is owned by df and dgm, . Dgm and df have very little savings, my uncle has all money tied up in shares which he plans to leave to his godchildren who live abroad. Df's bank has said no to bridging loan. Df also owns his house and has very low mortgage. I had thought that it would be straight forward to buy the new house with mortgage raised on existing house, pay interest on loan and then settle in 6 months when original house was sold. I think existing house is worth over £360K, new property is £110K

DragonMamma Fri 23-Nov-12 12:54:35

My dm did this - she raised a mortgage against a house they owned outright to buy the next property outright. It was very straightforward but she always planned to keep the 2 properties.

The only flaw I can see in your plan is that houses of that value aren't shifting as well so I think you need to speak to a local estate agent and see what it's actually worth and how long (realistically) it will take to sell. If it's in need of some repair then it could well be standing empty for a while unless you are prepared to do some works?

wonderstuff Fri 23-Nov-12 17:30:48

Really - so not having actual cash deposit wasn't an issue, they could raise 100% of purchase price? I think it will sell if we get in, declutter etc. If priced right will sell - is unmodernised doer uper, possibly the closest to original state on the road, lovely 1920s semi. Dgm is obviously retired, df owns half and is 60 - concerned the bank won't agree to a mortgage.

wonderstuff Fri 23-Nov-12 19:19:19

little bump for evening crew

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