Can I buy my grandfather's house, that my mum inherited?

Posted on 23 September 2013 by Sophie

Can I buy my grandfather's house, that my mum inherited?

My mother has been left my grandfather house in his will. He owned the house outright and so now I presume so does she. I know she is apprehensive to sell the house at it has been in the family for almost 90years. I am interested in owning the house but would be a first time buyer with my husband. How would it work if I intended to buy the house? Do I still apply for a mortgage as normal even though the house is owned by my mother? She is still currently paying a mortgage on her house but it was offset last year by my fathers retirement money.  I am completly new to this and would like to know the options I have. Thanks. Sophie


You will be purchasing from your mother and this in effect will be a purchase from a relative where your mother may decide to gift you some of the equity in the property. From your e-mail is not clear if you have any deposit of your own to put down. If you do not have any available funds, your mother will have to gift you some of the equity in the property and you can raise a loan for the rest. I.e if the property is worth £100,000 and if your mother is happy to gift you say £30,000 you will have to borrow the additional £70,000.

Although the process will be as with a normal purchase, one of our consultants will be able advise you on the best lender to approach, as not all lenders will accept cases where the purchase is from a relative.

If you'd like to discuss your enquiry in more detail, then please let me know and I'll arrange a convenient time for one of our consultants to contact you.



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