Buying one big house with parents.

Posted on 18 November 2012 by John


Hi we are looking to sell my elderly parents home and ours which will total 220k and buy one large one for 400k we have another house which they rent worth 80k we would like to keep this income and take a mortgage for 200k the new property has an income associated with it at 4.5k per year and my wife and i has joint income of 30k not including my parents pension. Do you think this possible? Thanks

John,

This certainly won't be the easiest mortgage to arrange, but subject to finding out about the rest of your situation, it may be possible. As John Charcol is an Independent, Whole of Market broker, we deal with those lenders who still manually underwrite cases, and can therefore judge each application on its merits, especially where the Loan To Value is so low.

If you'd like to talk through your enquiry in more detail, then please let me know and I'll arrange for you to speak to one of our consultants.

Regards,

Simon

simon.collins@johncharcol.co.uk

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