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Can we buy the house we live in from my brother-in-law?

Posted on 17 February 2013 by Keeley


We currently live in a home that is rented to us by my brother in law on a buy to let mortgage. He no longer wants the house, is there any way of him signing the house and mortgage over to us ?

Keeley,

What you are looking to do isn't quite as straight forward as your brother-in-law signing the house and mortgage over to you, however something similar could be done. You would actually buy the property from him for a 'concessional purchase price', that is to say that the price you pay him is the amount of the mortgage balance, rather than the full market value.

Subject to you meeting their standard criteria there are lenders in the market who are more than happy to lend on this type of transaction.

If you'd like to know more, then please let me know and I'll arrange a convenient time for one of our consultants to speak to you.

Regards,

Simon

simon.collins@johncharcol.co.uk

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