How do i go about buying half of my m...

How do i go about buying half of my mums house?

Posted in the Pasadena Forum

aaronlfy733

Houston, TX

#1 Oct 1, 2013
Hi
I want to buy half of my mums house as an investment. How do I go about doing this? The house is worth 230000, she is going to give me half the house for a reduced price of 110000. She was thinking of selling the house to get a smaller place as cannot afford the mortgage anymore. But I didnt want her to give it up as I know she doesnt want to leave it as she has been there for 30 years. Can I get a mortgage with a 5% deposit for the 110000? I have spoken on the phone to santander about this but i don't think they understood what i wanted. They said to just put my name on the house so its jointly owned and just paying my mum half the mortgage every month. Is that right? Im a first time buyer. Could you please give me a bit more information on what my options are. Would really appreciate it! Thanks very much
rachelefap164

Houston, TX

#2 Oct 1, 2013
aaronlfy733 wrote:
How do i go about buying half of my mums house?
-
Hi
I want to buy half of my mums house as an investment. How do I go about doing this? The house is worth 230000, she is going to give me half the house for a reduced price of 110000. She was thinking of selling the house to get a smaller place as cannot afford the mortgage anymore. But I didnt want her to give it up as I know she doesnt want to leave it as she has been there for 30 years. Can I get a mortgage with a 5% deposit for the 110000? I have spoken on the phone to santander about this but i don't think they understood what i wanted. They said to just put my name on the house so its jointly owned and just paying my mum half the mortgage every month. Is that right? Im a first time buyer. Could you please give me a bit more information on what my options are. Would really appreciate it! Thanks very much.
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Since: Oct 13

Location hidden

#3 Oct 15, 2013
send me 1000 pounds sterling, and I'll show you how using my new improved "buying half of mum's house for Dummies" booklet. dummy.

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