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I'm buying a property with my daughter, is it possible to get a small mortgage?

Posted on 4 July 2013 by AH


I own my house with no mortgage worth £310k. I have a 50% share in a property worth £175k with a joint mortgage of £50k (however, I do not contribute to the payments). Can I take out another small mortgage to purchase a house worth £100k which wil be owned jointly with my daughter who will have approx £75k deposit?

Based on the information supplied, I can't see why you can't take out another mortgage, either on the property you're buying with your daughter or on your current main residence.

I'd need more information on your personal financial circumstances before I can say anything more definite, but it certainly looks feasible.

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

Regards,

Simon

simon.collins@johncharcol.co.uk

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