Buying A House With My Son

[JBW1366]

Hello, I wonder if anyone can help. My wife and I purchased our council property five years ago next January, and we would like to move when that anniversary arrives, so we do not incur any pay-back to the council. We are hoping to move from were we live to the coast possibly Eastbourne and we are hoping to purchase outright not leaving us with a mortgage. Our question is that our son who is nearly 18 has just joined the RAF, and we have encouraged him to buy a flat asap, to make good his money and to have something for the future as he's going to be in for minimum 12 years and he will be on the property ladder when he comes out.

But once we pay off what we have left on the mortgage we have enough for a small modest house, what are the implication if we buy with our son? Can we? we put in what we have less what we owe on the mortgage, and he gets a mortgage for whats left.

Do we have to go to a solicitors and getting something written up? What about our daughter who lives with us (she's 19), but hasn't got the money to invest or earn enough to pay a mortgage.

She's more likely to move out etc.. And if anything should happen to us, she would get half of our share and so would our son, and he would get his third.. all sounds complicated but is it something that can happen, or are we making it too complicated?

When we move, we are hoping to get part-time jobs, and would pay all bills etc, and our son would pay the mortgage on the property, a mortgage of possibly £100,00.

help is this feasible?

Thanks you all in advance