Dolladollabill
Registered User
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Hi everyone
First time poster so would really appreciate any advice or opinion.
My mam owns her house, currently worth approx €150k, she wants to sign it over to us so that we could release equity from it in order to help us with our first home and some other things. We would be hoping to get €50k out of it by taking a mortgage on it for that amount.
I would want my mam to stay there for as long as she wants to with a view to her perhaps someday coming to live with us but always having the option to stay in her own home if she so wishes.
Now for the second part of my question, I unfortunately a few years ago had an issue with a Halifax loan which I struggled to repay and it affected my ICB, Loan payments are almost finished but it will show on my ICB for at least another 3 years. Our financial situation now with my husband is very secure and we would have absolutely no concerns about repaying the €50k but can he take a mortgage on the house by himself even if the deeds are in both names? He would have no problem getting a €50k, I think anyway!
Any advice or direction for us would be great. My mam is happy to do it but I want to make sure it’s airtight for her and for us.
Thanks in advance
First time poster so would really appreciate any advice or opinion.
My mam owns her house, currently worth approx €150k, she wants to sign it over to us so that we could release equity from it in order to help us with our first home and some other things. We would be hoping to get €50k out of it by taking a mortgage on it for that amount.
I would want my mam to stay there for as long as she wants to with a view to her perhaps someday coming to live with us but always having the option to stay in her own home if she so wishes.
Now for the second part of my question, I unfortunately a few years ago had an issue with a Halifax loan which I struggled to repay and it affected my ICB, Loan payments are almost finished but it will show on my ICB for at least another 3 years. Our financial situation now with my husband is very secure and we would have absolutely no concerns about repaying the €50k but can he take a mortgage on the house by himself even if the deeds are in both names? He would have no problem getting a €50k, I think anyway!
Any advice or direction for us would be great. My mam is happy to do it but I want to make sure it’s airtight for her and for us.
Thanks in advance