Good Morning
My Dad bought me a house a year ago in cash and would like it out of his name, he wants me to get a 60k mortgage, the house was recently valued at 190k.
I am struggling to get a mortgage.
Ive been reading about private mortgages but before I suggest this to my dad does anyone know if this is a good way to go. My dad is not in need of the money he would just like the house in my name.
So if Ive got it right no money will change hands, it would just mean the house being in my name not his.
Any help would be great.
Many thanks
My Dad bought me a house a year ago in cash and would like it out of his name, he wants me to get a 60k mortgage, the house was recently valued at 190k.
I am struggling to get a mortgage.
Ive been reading about private mortgages but before I suggest this to my dad does anyone know if this is a good way to go. My dad is not in need of the money he would just like the house in my name.
So if Ive got it right no money will change hands, it would just mean the house being in my name not his.
Any help would be great.
Many thanks