Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Mortgage with my parents

3 replies

Magicstars · 25/06/2020 13:45

Hi, I’m separated, living in our family home with two small DC. Ex h has moved out, pretty much living with his gf.
He wants to come off the mortgage to buy a new place with his gf. I would love for him to come off mortgage so our finances are not entwined ASAP.
Bank will not let me be the sole name on the mortgage however; I do not earn enough.
Question is, will any lenders let my parents take over his name on the mortgage?
They are both in early 70’s & retired. Own their home, no debts & decent income & capitol.
I am employed part time in a secure career. Would prefer not to sell the home, to keep continuity for children & minimise already difficult situation.
Many thanks in advance 💐

OP posts:
billybagpuss · 25/06/2020 13:48

Not helpful I'm sorry, but we're in the process of taking out a further advance for a kitchen and until the main mortgage is paid off we wanted to stretch the new money over as long a period as possible and they would only go up to age 70.

Dinosauraddict · 25/06/2020 14:57

Some lenders do give mortgages past 70 as long as there is evidence of decent private pension income - get a decent broker!

rmh · 30/06/2020 00:03

You can get multi generational mortgages where the house would be in your name but the mortgage would be in your and your parents names, depending on specific circumstances etc. I have a friend who is a mortgage broker and deals with these, PM me if you would like me to connect you.

New posts on this thread. Refresh page
Swipe left for the next trending thread