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Borrowing on house to help daughter buy house.

Can you borrow more when you have mortgage to buy another house? Thank you.

Asked on May 4 2012, Home Finance in Bury St. Edmunds | Report content

Answers (2)

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  • You can only borrow against your house. If you have enough equity in your property and have sufficient income to satisfy the lender’s requirements then you should be able to borrow more on your own house. That would release cash that you would give/lend to your daughter to put down as deposit on her house and therefore she would have to borrow less to buy her house.

    Answered on May 5 2012, Report content
  • You should consider your own protection when giving her the money

    Answered on May 5 2012, Report content

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