Lord Botham Falls Into An Australian...
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I already own a flat and have some savings i would like to invest.
My cousin is looking to get his first place but needs finacial help. He can get a mortgage for the property but only if i can invest my savings as half the deposit. I would also then pay half the mortgage.
Basically i would then rent out my half of the flat and he would pay for his half as his home.
We have been told that we may have to get a buy to let mortgage but it will be my cousins home so why does he have to pay the higher interest rate on a buy to let mortgage. We are very confused to the correct way of doing this, can anyone help?
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