I have a simple question. How old does one have to be to be able to buy a house? Is there a certain age? Mostly this question is about age. If anybody can help I would be so thankful.
2007-12-11 05:42:52 · 12 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Legal capacity is the term used to describe the ability of someone to enter into a legally binding contract. The law in this area is generally considered unsatisfactory and there are no very precisely defined tests of legal capacity.
The presumption in law is that people over 18 have capacity
2007-12-11 06:00:51 · answer #1 · answered by Fred3663 7 · 0⤊ 0⤋
18
2007-12-11 05:47:28 · answer #2 · answered by Anonymous · 1⤊ 1⤋
If you have the ready cash, then 18 years old to be able to sign the legal contract.
To get a mortgage, loan etc may be more difficult at 18 as you have to prove you are earning enough to repay it.
2007-12-11 06:09:29 · answer #3 · answered by annie 4 · 1⤊ 0⤋
18, but it would be very difficult since most lenders require 2 years verified employment, showing that you earn enough to cover the mortgage. Plus, most people that young don't have the credit history or assets. The youngest I've actually been able to successfully do a loan for was 21.
2007-12-11 05:48:16 · answer #4 · answered by Anonymous · 2⤊ 1⤋
Legally you have to be 18 but the majority of high street mortgage lenders want at least one of the applicants to be 21 or over.
2007-12-11 20:18:29 · answer #5 · answered by leambi 5 · 0⤊ 0⤋
18 - you need to be a legal person because of the fact the acquisition of a house is a legal settlement. comparable applies for renting. you could in user-friendly terms do it if a cosigner who's a determine or father or mom will sign. that isn't any longer undemanding to discover because of the fact in case you could no longer make money, that is their credit status and wallet that get screwed.
2016-10-11 01:48:41 · answer #6 · answered by ? 4 · 0⤊ 0⤋
You can't make a legally binding contract in the UK until you're 18 and you need one of those to buy a house therefore you need to be 18.
2007-12-11 05:47:35 · answer #7 · answered by DARREN A 4 · 1⤊ 1⤋
Legal age is 18.
2007-12-11 05:46:19 · answer #8 · answered by Tim 7 · 0⤊ 1⤋
18 years old, if you need to sign any legal papers. If you have cash, I guess you could buy a house at any age.
2007-12-11 05:46:36 · answer #9 · answered by DeeDee 6 · 0⤊ 1⤋
Over 18 and proof of earnings or savings
2007-12-11 05:47:11 · answer #10 · answered by ANDREA 3 · 1⤊ 1⤋