Remortgage

Is it possible to remortgage my parents house to raise a deposit to buy a property myself?

I would be guarantor on the remortgage loan.

How to banks view this kind of thing?

Has anyone ever done this?

Any help appreciated.


Thanks

You can't raise a mortgage on a property you don't own. THey would need to mortgage the property themselves.

Didn't the EBS get roasted for advertising a product similar to this a year or so ago. People argued that children would put undue pressure on their parents to get them the deposit for a new house.

For me, looking to the future, I feel that it would be worth it if I could keep control of the remote control. Having a twenty/thirty something couple necking or whatever on the couch in my own living room, waiting for me to go to bed, could not exactly be described as pleasant. They would probably eat you out of house and home as well.

The recent TV ad where the couple are coming home in a taxi praying "please don't let them be up" sums it all up