can i purchase my mothers house for just the amount of the outstanding mortgage (B#20000 on a B#80000 property) to save her from repo ?, is this allowed by the mortgage companys ?

And if so could i then charge who rent to live there and would she get state help to pay it ?

-- paul goss (gossyy@hotmail.com), October 28, 2000

Answers

If you're getting a mortgage to buy your mother's house, then the lender usually wants to know if the house is being passed between family members.

What you are proposing is possible, but I would suggest that you and your mother see a solicitor - go to a multipractice firm - one that deals with trusts as well as conveyancing. They'll be able to sort everything out so that you and your mother are protected in the future.

Pendle

-- pendle (pendle@amun-ra.demon.co.uk), October 28, 2000.