mortgage

[BOND007]

I have a right to buy offer on my council house, but I am having difficulties obtaining mortgage on the property because I have joint tenancy of the property my 86 years old grand dad . No lender is ready to lend to someone of his age. How do I resolve this?

[hectic]

The only way around is to maybe ask your Father if he would be willing to take his name of the tenancy agreement so that you may get a mortgage

[Hgrove]

I am confused by this. If you earn enough money to qualify for a mortgage loan large enough to purchase the property, I do not see where your grand dad comes in. They would be lending to you not to your grand dad.

[BenDToy]

Are you sure about this? I can't see why they wouldn't lend you the money, with him as joint owner. As Hgrove says, it is probably you who are borrowing the money, not your Grandad. I appreciate that you may have some issues with life insurance for him, but I can't see them refusing the loan on the basis of his age. I also understand that you may have to leave his name on the agreement in order to secure the right to buy.

[johnjbloomfi]

i have seen this a thousand times. You have two choices 1 have your grand dad taken off the right to buy papers a letter from him to the council will facilitate this they may in some area's require him to take legal advice or two there is one former building society I can think of that doesn't usually have a problem with this begins with an H and ends with an X but tlike the disclaimer says this is info not advice