Mortgage help?
Thursday, January 28th, 2010matchmaker86 asked:
Need some advice both financial and legal. My mother is selling her house but in the meantime she has seen another house she wants to buy. She has no capital and I have agreed to buy it for her. While I can put capital of 25% down on the house I still need to find the remaining funds, so I am assuming mortgage, my own is paid off. But when she sells her property she will give the funds to me to pay off the debt, this may only be a matter of months. So my question is does a mortgage sound the right thing here, should we put it in joint names, if only my name can I transfer the house to her and is their any capital gains issues if I just put it in my name then she give me the cash to pay it off……help..
by the way i am in the UK
Home Heat Pump Reviews
Need some advice both financial and legal. My mother is selling her house but in the meantime she has seen another house she wants to buy. She has no capital and I have agreed to buy it for her. While I can put capital of 25% down on the house I still need to find the remaining funds, so I am assuming mortgage, my own is paid off. But when she sells her property she will give the funds to me to pay off the debt, this may only be a matter of months. So my question is does a mortgage sound the right thing here, should we put it in joint names, if only my name can I transfer the house to her and is their any capital gains issues if I just put it in my name then she give me the cash to pay it off……help..
by the way i am in the UK
Home Heat Pump Reviews
