Can I let my Mother's flat?

Posted on 12 September 2012 by Vicky

My mum is looking to move nearer to me. She plans to let out her flat to fund the purchase of a bungalow but due to her age she is not getting a great rate on a let to buy mortgage. Can she sign over the flat to me and i'll take out the mortgage on her behalf and pay her the difference between the mortgage and rent as the income that she needs?


There is no reason why you could not buy your Mother's flat and let it out.  You will need to instruct a Solicitor to carry out the legal work for you and to ensure that any Stamp Duty Land Tax liability is met.  You may each want to instruct separate solicitors so that you can ensure interests are being properly represented.

With regards to the mortgage there is a small choice of lenders who will consider an application where you are buying from a family member, so long as that family member is not remaining in occupation.  Depending on whether you are an owner occupier or First Time Buyer and whether you are an experienced or First Time Landlord the number of lenders may diminish even further.

I believe we can help you and that you would benefit from speaking to one of our independent mortgage advisers.  Please call 0344 346 3672 and tell the consultant the date and title of your question, they will then be able to help you find the right mortgage for your situation.


Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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