• Gifting A Property.

    By Guest on 12th Sep 2017

    Hi,

    Firstly i would like to thank you for your time and advise in advance.

    My question/situation is that my mother is wanting to gift our family home to me, however there is an outstanding mortgage with Santander for £150k, i believe the property is worth somewhere in the region of £480k, i have purchased a house with my wife 2 years ago and we both live there now, my question is that can she gift the property to me with an outstanding mortgage? if so, would i be able to get a mortgage on this property on my name to clear of the amount she owes to the bank? This property would be a buy to let if she was able to gift it to me.

    If there is another way please advise.

    Many Thanks

    Chirag Desai

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