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Can my parents raise a deposit for me on their Buy To Let?

Posted on 24 November 2012 by Jack


Can my parents raise a deposit for me on their Buy To Let?

My mom and dad want to help me buy a property by borrowing more on an existing buy to let mortgage that they have. They have about £17k left on their buy to let mortgage on the house which is worth around £135k. My dads retired but my mom is still in full time work, I would require around £21k.

Jack,

Unless there's something in the background that would cause a problem, I cant see any reason why your parents can't raise the additional sum you require on their existing buy to let property.

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

Regards,

Simon

simon.collins@johncharcol.co.uk

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