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Mortgages

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Nanagran | 06:47 Sat 08th Dec 2007 | Personal Finance
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I want to take out a 12 year fixed rate mortgage, but have been told that because my Mother's name is on the existing mortgage (which I pay), it cannot be done as she is 75. How do I go about having her name taken off?
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Avatar Image dzug
You get her to give (or sell) the house to you and take out a mortgage on it yourself. You can only take out a mortgage on something you own.

There are potential inheritance tax and care fee downsides to this though.
09:11 Sat 08th Dec 2007
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Go to a mortgage company that will allow her name to remain on there. There are enough of them around that will actually want your business - why bother with one that won't help you out?
11:25 Mon 10th Dec 2007

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