Raising a Buy to let to repay a relative!

Posted on 24 November 2012 by Rebecca

Raising a Buy to let to repay a relative!

My mother in law bought my husbands property off him to allow us to purchase a new property last year. The deeds remain in my husbands name. His mum also leant him some money to help buy the property. We would like to pay her back by taking out a buy to let mortgage on the old property. Is this legal? And possible?


In essence there's nothing illegal about raising a Buy To Let mortgage on the old property, however, one thing I wanted to query is how your husbands name is still on the deeds, if he sold the property to his mother ? Do they own it jointly ? If you could let me know, then I can give you a fuller answer to your enquiry.




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