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Mortgage with a friend questions

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Comments

  • #32
    Ursus Horribilis
    Closed Accounts Posts: 6,168 ✭✭✭Ursus Horribilis


    Yep, there's real stench of a stroke being pulled here. Why lose your first time buyer's status and risk your own financial future over someone else's problem? Why can't she upskill if she is of a mind to buy a house but is a bit short? Why can't she wait another year for this sum of money and save in the meantime? Does this lump sum even exist?


  • #33
    TallGlass
    Closed Accounts Posts: 4,906 ✭✭✭TallGlass


    Out of interest. How long have you known this person?

    It's all seems very scam like.

    As they say on Dragons Den, 'sorry but it's a no from me on this one.'


  • #34
    ghostdancer
    Registered Users, Registered Users 2 Posts: 6,539 ✭✭✭ghostdancer


    despite the fact that it would probably be OK, there's literally no upside to this for you that I can see, other than humouring your friend.

    as everyone has pointed out, you'll be liable for anything that goes wrong, and if she gets sick/pregnant/whatever, then a "well she's looking after the repayments" won't cut it at all.

    plus you lose your first-time buyer's status (assuming you still have it), so this plan will cost you financially down the line.



    how/why are the parents going to receive money in a year? you say they have properties already, so let them re-mortgage or sell them or whatever if they want to raise capital now to give to her.


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