I think this will depend on who is going to live in the property.
Parents living in the property
If either of your parents are going to stay in residence then I do not think you will be able to transfer to your names or find a new lender willing to grant a mortgage. This is because your parent would have a prior right to reside and the lender would not be able to get vacant possession if they had to repossess the property.
Not living in the property
If your parents are not going to live in the property then it depends on what your intentions are? If, for example, you intend to let it out then it may be possible to get a buy-to-let mortgage in four names based on the anticipated rental income. The property would have to be in good condition and the rent would need to cover the monthly mortgage payments plus an extra 25-30%.
You will need to take independent legal advice to protect both yours and your parents interests and I recommend that you speak to one of our mortgage advisers. Please call 020 4519 5101 and they will then be able to give you specific advice you on your situation.
