My Father died last year so I was left a lump sum £100.000 which we are going to put towards buying our first house.
So I will pay the deposit and for any renovations on the house and my boyfriend (because of my bad credit rating) is taking out the mortgage. £180.000
The deposit will work out at 25% of the mortgage and I will use aprox £60.000 on the house.
We have been advised to make a 'deed of trust' along side our mortgage.
Can someone tell me how do we work that out?
So I will pay the deposit and for any renovations on the house and my boyfriend (because of my bad credit rating) is taking out the mortgage. £180.000
The deposit will work out at 25% of the mortgage and I will use aprox £60.000 on the house.
We have been advised to make a 'deed of trust' along side our mortgage.
Can someone tell me how do we work that out?