Buying parents house

[Priesty]

My friend wants to buy his parents house at an undervalue (its worth �100,000 but will purchase for �30,000). His parents will remain in the house, and my friend will remain in his current house. I can't find a lender for this as most lenders state the parents would have an underlying right which would go above the rights of the lender. I've also tried buy to lets, but the same problem accurs. Is there any lender he could use to get around this problem.?

[buildersmate]

I think I'd question why he's doing it at all. If to avoid Inheritance Transfer tax, it won't work and anyway the house value alone falls well short of the threshold (but perhaps there's other assets).

[bonzo123]

saw your question about undervalued property and parents living in it, try Bm solutions or Capital home loans as they accept parents living in the property, but you will have to raise a 15% deposit for a purchase,as the best bet is on a buy to let basis. you will get a positive response from either of these companies as im a broker and have completed a mortgage recently with Bm solutions.