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can anyone help me on this one?

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  • can anyone help me on this one?

    Hi all and here goes - my mother applied under the right to buy scheme and was successful, she has been offerd the 3 bdroom house for 56k but only she has her name down on the application as the other 3 kids are too young to join in on the right to buy and i moved out some years ago.
    Anyway - im going to be the one to put down a 32k deposit and take out a mortage on the house but i cant as i was not included on the application
    also mum does not have an income apart from what comes thru on social so how do i go about getting a mortage for mum?
    i would transfer the whole 32k to her account so they can see this and tell them they will get payment every time each month or shall i just give it all up

    thanks.

  • #2
    Re: can anyone help me on this one?

    That's a tough one. Is there any chance she could find work simply to have the desired income for the mortgage, only to then go part time or quit and then have you pay it from there? I'm guessing she has commitments with the 3 children though. Perhaps a mortgage broker could be of help here.
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    • #3
      Re: can anyone help me on this one?

      yes shes got the kids to look after and well what eles can i say
      is there no chance of it working out here, i mean im going to put down a 32 to 34k deposit - so if they see that im living at that address, im her son with a huge deposit cant that work? and obviosly i'll be paying it off or am i just facing a no win here?
      thanks...

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      • #4
        Re: can anyone help me on this one?

        Do you rent yourself or are you a homeowner stereo amplifier 9800?
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        www.FirstTimeBuyerGuru.com

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        • #5
          Re: can anyone help me on this one?

          nono - the girlfriend gave me the boot a few months ago so im back home and thorght there's no point wasting time paying rent lets buy the house!
          i feel so close yet so far its getting me stressed

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          • #6
            Re: can anyone help me on this one?

            Well in that case, as long as you're registered there I can't see any reason you can't be on the mortgage as well, even though it's another family member who's technically qualified for the scheme. Failing that, perhaps you can reapply but include yourself in the application. It's a very frustrating situation.
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            www.FirstTimeBuyerGuru.com

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            • #7
              Re: can anyone help me on this one?

              I would get your name on the deeds when the ownership is transfered.

              If you are paying a mortgage in your name, you need to be on the deeds.

              You dont have to live there to buy for your mum or to get a mortgage.
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