{"id":134020,"date":"2023-01-23T14:00:15","date_gmt":"2023-01-23T07:00:15","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-there-a-mortgage-my-friends-can-use-to-move-without-needing-help-from-their-daughter\/"},"modified":"2023-01-23T14:22:31","modified_gmt":"2023-01-23T07:22:31","slug":"is-there-a-mortgage-my-friends-can-use-to-move-without-needing-help-from-their-daughter","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-there-a-mortgage-my-friends-can-use-to-move-without-needing-help-from-their-daughter\/","title":{"rendered":"Is there a mortgage my friends can use to move without needing help from their daughter?"},"content":{"rendered":"


\nTheir home would sell for \u00a3400,000 but bungalows near their family cost about \u00a3500,000Q My friends retired to the coast 20 years ago. They are now in their late 80s and want to return to live near their daughter and two sons to benefit from their support.\u2028The problem is that their current home on the coast is likely to sell for \u00a3400,000, but bungalows back near their family cost about \u00a3500,000.\u2028Their daughter is debating options as to how she can help. Could she take out a mortgage (the home she owns outright is worth about \u00a3440,000) on her home or take an unsecured loan to make up the shortfall for her parents? Or can my friends get some sort of loan, or equity release or interest-only product that they can manage on a small pension? How can my friends make sure their daughter is repaid in the event of their death or if care home fees become due? KSA Judging by the number of emails I had over the years from one sibling (of several) being helped financially by parents or the other way round, unless all arrangements are made out in the open and with all interested parties involved, things can easily turn sour, not to mention bitter and resentful. And any arrangement where the lender \u2013 in this case, your friends\u2019 daughter \u2013 needs to be paid back (even if eventually) can make added and unnecessary complications. Continue reading…
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\nSource : theguardian.com
\nRead more…Is there a mortgage my friends can use to move without needing help from their daughter?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Their home would sell for \u00a3400,000 but bungalows near their family cost about \u00a3500,000Q My...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-134020","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-yRC","jetpack-related-posts":[{"id":108594,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/my-daughter-in-law-wants-to-sell-a-standalone-garage\/","url_meta":{"origin":134020,"position":0},"title":"My daughter-in-law wants to sell a standalone garage","date":"July 1, 2019","format":false,"excerpt":"\r Her mortgage lender is refusing to allow the sale. Is there anything she can do about it?Q My daughter-in-law has been approached by her neighbour who would like to purchase her garage which is in a small compound. She asked her mortgage lender whether she could have the garage\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":99826,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/only-top-5-of-earners-can-afford-landed-homes\/","url_meta":{"origin":134020,"position":1},"title":"Only top 5% of earners can afford landed homes","date":"October 15, 2018","format":false,"excerpt":"\r Landed homes are some of the most expensive properties in Singapore. Only the top five percent of earners in Singapore or professionals like financial directors, specialist medical practitioners, lawyers and CFOs can afford landed properties in the city-state, reported the Business Times citing a ValueChampion research. This comes as\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":131375,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/higher-mortgage-costs-will-put-400000-more-people-in-poverty-analysis-finds\/","url_meta":{"origin":134020,"position":2},"title":"Higher mortgage costs will put 400,000 more people in poverty, analysis finds","date":"November 4, 2022","format":false,"excerpt":"\r Warning from Joseph Rowntree Foundation comes after Bank of England raised base rateHigher monthly home loan costs will pull another 400,000 people into poverty in the coming year as the fallout from dearer mortgage rates ricochets through the housing market.The Joseph Rowntree Foundation (JRF) said an additional 120,000 households,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":157,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lets-move-to-the-east-norfolk-coast\/","url_meta":{"origin":134020,"position":3},"title":"Let\u2019s move to the east Norfolk coast","date":"December 11, 2015","format":false,"excerpt":"\r Fashionable before it started falling into the sea, this stretch of coast has great beaches and affordable property. Just watch those waves\u2026What\u2019s going for it? A cautionary tale about property. Before the North Norfolk Coast was the North Norfolk Coast, the East Norfolk Coast was the North Norfolk Coast.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":127080,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-sell-my-buy-to-let-flat-or-keep-it\/","url_meta":{"origin":134020,"position":4},"title":"Should I sell my buy-to-let flat or keep it?","date":"June 20, 2022","format":false,"excerpt":"\r It has been a successful rental, but I\u2019ve hardly reduced the loan and I\u2019m worried about remortgagingQ In 2006 I bought a flat on the south coast. 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