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Bank of mum and dad joint ownership

We would like to help our daughter buy her first house by injecting a significant cash sum. She would take out a mortgage in her own name for the balance. In order to protect our investment, we would like to be named as joint owners on the property title deeds. However, we understand that many lenders will not not permit another party besides themselves to have an interest in a property on which they are lending. Is this true? If so are there any lenders who will permit this, and if so which ones?

Asked on Mar 10 2018, Home Finance in Gloucester | Report content

Answers (1)

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  • Hello Russell - there are several lenders that you would be able to work with, however they would normally require to see the "whole picture" so they will conduct credit checks etc. on your daughter, yourself and your wife to confirm that the loan will be adequately serviced throughout the term. I would suggest approaching a good mortgage broker to weigh up your options.

    Answered on Mar 12 2018, Report content

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