• Transfer Of Equity

    By Guest on 26th Jul 2022

    My daughter and boyfriend want to buy a home which has the conditions of only being available to first time buyers, which they are, and can only sell to other first time buyers. In a few years, they want to move to new house but want to let his Mum move in and take over the mortgage and for them to be removed from the mortgage. The outstanding mortgage will be around £130000 and her annual income is £20000 approx, she's not a first time buyer, will be age 50. We've been told by just transferring the deeds to her, this will be possible, doesn't sound as straightforward as that to me, could you advise please?

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