can i get a mortgage,then give the money to my nan to buy it, or have i got yhe right to buy it and put the house in my nans name?
2006-10-13 01:47:41 · 9 answers · asked by rolelly 1 in Business & Finance ➔ Renting & Real Estate
You have to be on the rent book for a few years before you have the right to buy.. a mortgae wont let you give the money away without the deeds being in your name
2006-10-13 01:50:32 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Your Nan must apply or you can apply for her from the councils leaseholder dept. Nothing is solid until it is signed even though you sign all the way through, you can pull out of it they are usually slow the final siging of the leasehold or freehold of the final deed. Then at that point there is no pulling out.
She must sign and you pay for it on the morgage papers both names can be on the papers. Because you are the one paying. But if you pay cash then you can put it in her name.Or yours, To be left to you if something happens that way you get to pay less capital gains tax.
Be quick because the government are thinking of stopping the 16% discount off for the property. Know this that the first valuer is usually the one that is more than the district valuer. It takes a time but worth it in the long run, just do it before the government take the offer away that is all.
2006-10-14 06:49:25 · answer #2 · answered by sarell 6 · 0⤊ 0⤋
Your Nan can only buy the house as it is her name on the tenancy but there is nothing to stopping you having your name puit on the mortgage as a second buyer. The only problem might be that depending on your Nans age (some are quite young and not at retirement age) she may not be in a position to buy her house (because of her age and financial income). I would suggest that you speak to a financial advisor prior to contacting the council.
2006-10-13 02:02:31 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I would suggest you buy house in Nans name as long as she has got some income there are lenders who will do this. You could pay for the mortgage payments and get your Nan to make awill with you the beneficiary of the house. After the discount period remortgage house into your name. I have done this
2006-10-13 02:24:54 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The council will purely sell the abode on your nan. there is not any longer something to provide up her procuring it along with your funds, yet there is in all probability some info which says the abode can't be bought/transferred interior of X years (or pay decrease back the saving). Your nan could then could pass the abode to you as quickly as this time is up.
2016-10-02 06:24:06 · answer #5 · answered by gangwer 4 · 0⤊ 0⤋
Contact the her local housing executive to find out were you stand with you buying it. If all is OK, you will need to complete a form, the the Housing Executive will back to you with an offer, from there you need to raise the funds.
2006-10-13 01:57:20 · answer #6 · answered by ********** 5 · 0⤊ 0⤋
ask her to put it in your name or add you to the rent book then apply for a mortgage for that address. let her live there rent free that way she'll have more money to live on and buy you a present with! speak to her landlord (the local council) is probably your best option
2006-10-13 01:53:37 · answer #7 · answered by Rach 2 · 0⤊ 0⤋
Go to the council first, then if you purchase it, you can put it in your grans name,(the house).
2006-10-13 02:01:17 · answer #8 · answered by Anonymous · 0⤊ 0⤋
If I were you I would contact the council in the first instance. x
2006-10-13 01:51:31 · answer #9 · answered by Anonymous · 0⤊ 0⤋