[walker.lucie]

...me? my parents are 59 and 62 and my mum has offered to get a mortgage for me and my partner my credit isn't very good due to being silly when younger but all my debts are now paid and i still have low credit due to having to ccjs.we have seen a property we really like but they wont accept me and my partner due to credit i was wondering with the deposit we have would they let my parents get the mortgage and we pay every month?I really don't want to get into renting as it is hard to get out of.

[shannypants08]

You have to be careful doing it because of taxes. I tried to do that with my grandma but she would have had to pay taxes from the income or something weird. I would suggest asking someone at the bank or a tax person about it.

[PraoWolf]

Technically yes, your parents can get a mortgage for the property on your behalf, if anything though I would say put one of you on the mortgage and have your parents become cosigners. That way the responsibility to pay is still yours they are just guaranteeing the loan in the event that you can't pay. Be warned though, if you can't pay they WILL go after your parents for the money and can potentially ruin their credit by doing that. That's why it's usually so hard to find a cosigner for a loan of any sort, because no one wants to be on the hook for someone else. I was lucky in the place I found, it's not the best, but it's a single wide mobile home, quite nice, in a mobile home park. They were able to mortgage it to me even with my crap for credit. total it's like 40k, I know a bit expensive, but considering my options, which were zero, this was the best. I pay $515 a month for both the home and lot, and just have to pay electricity and internet. After 5 years it goes to the normal 615 but it's not rent, and after 10 years the mobile home will be mine to move, hopefully by that time, I can get some land and get it moved there and start preparing the land for a proper house.

[angelacatirina]

If you're in the U.S. and purchasing property:* you can apply for a mortgage with your parents as co-signors or guarantors on the loanor* your parents can purchase the property outright and sell their equity to you on a month to month contract (depending on the state - consult a real estate attorney to work up the contract). The downside to this is if your parents can't pay cash for the property, they can't write a sale contract on a property they don't own outright (in most states). If they were to do it anyway and passed away before the property was paid for, the lender would call the loan due when their estate went into probate. Alternatively, if there were other relatives that were to share in the inheritance, you could lose your house to them or to the sale of the estate.If you're in the U.S. and renting or leasing a property:* You can apply for the lease and request that your parents act as guarantors on the lease. They will have separate paperwork to sign making them financially responsible for the property while you have the right to live there. This all has to be in full disclosure to the landlord or you can be evicted if it's not. Be aware though that the landlord has the right to contact your parents about your activity at the property (if you throw loud parties, create damage, have guests that are frowned upon).

[bam bam]

i hate people like you why in the world would you have your parents get a mortgage for you they worked hard for what they have and you should to because what will happen if your mom and dad need a lot of money will they cant get a mortgage loan because they gave it to you and if you cant get one then they are F%$#ed its sound like to me you are still young and dumb find a way to get your own mortgage or dont worry about a house you are the ones that messed up not your parents so why make them pay for it