I asked a similar question a while back, but circumstances have changed somewhat since then (both for me and the financial world in general!)
If I were to buy a property for a parent who would be paying 'rent' to me at well below the market rate, how would a lender view this in terms of the type & size (and term) of loan they would advance?
If it's relevant, I'm already a homeowner with a mortgage of about 50% of the value of my home.
If I were to buy a property for a parent who would be paying 'rent' to me at well below the market rate, how would a lender view this in terms of the type & size (and term) of loan they would advance?
If it's relevant, I'm already a homeowner with a mortgage of about 50% of the value of my home.