Bronco Lane
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Our son needs to get a mortgage. However his marital situation is slowing his application down but is in the process of being sorted.
Is it possible for us to purchase a house in his name for cash using our savings, then for him to get a mortgage from the bank in his own name and pay us back once his marital situation has been sorted.
He would probably be looking for a 75% loan on the purchase price as we will be gifting him the other 25%.
House prices continue to rise so we would like to get moving as soon as possible.
Any thoughts or suggestions welcome.
Is it possible for us to purchase a house in his name for cash using our savings, then for him to get a mortgage from the bank in his own name and pay us back once his marital situation has been sorted.
He would probably be looking for a 75% loan on the purchase price as we will be gifting him the other 25%.
House prices continue to rise so we would like to get moving as soon as possible.
Any thoughts or suggestions welcome.