Thinking of buying a home for my student son.Mortgage...

[honey]

...Advice? UK? I have enough equatity in my house,so should I increase my mortgage ,and buy the second house for cash....Or should I raise a mortgage on the second house.I will only need it while hes at uni....Or will it be a lot less hassle and just rent a hovel? Anyone else been in the same predictment?

[mrsclaura]

if you can get in to a Bairstow Eves estate agents they have in house mortgage advisors myself and my husband just bought a house and used them they are brilliant and you don't have to pay the mortgage company pays them x

[graciegrumbles]

no disprespect intended, but can't he contribute and pay rent, once he leaves uni, you are stuck with a 2nd home you have to be reponsible for, as he may want to spread his wings and travel, or work away. In buying the house you are in a way, tying him, and you to that area.

[Leu]

I would advise you against it. I'm not going to preach about the risks involved since I sense you realise that already.If you want to support your son, without the unnecessary risks, offer to help out by paying some or all of the rent on a room/flat or house?