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10-08-2007, 03:37 PM
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Thinking of buying a home for my student son.Mortgage...
...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?
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10-08-2007, 03:45 PM
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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
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10-08-2007, 04:01 PM
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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.
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10-08-2007, 04:13 PM
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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?
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