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How does being on my Dad's "buy to let" mortgage affect me?


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My Dad is 70 and has just secured an offer on a house. He doesn't currently own a home(lives on a boat) so he needs me to go on the deed with him.

He is putting 30% deposit down on the property.

I am already a home owner and will be thinking of increasing my current mortgage in the next 6months. I wondered if being 50% owner on a "but to let" property would be a positive thing or a negative thing from a lending point of view.

Obviously I'd have another property with equity in it, but would I also have more risk attached to me?

I apologise if this would be better suited in a different forum but I'm desperate to find an answer an thought this looked like a good place to ask.



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I think it might be viewed as a liability to have this BTL on a mortgage and to try and increase your borrowing.

Say you lost your job or became ill - how would you cope - that is what lenders would ask.

Borrowing is difficult at the moment and since your father has no equity in a house as back up I would see you as a risk.

Let's see what the others think?


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