Can you give some hard information as there may be other solutions.
Your parents
1) Value of parent's home.
2) Is it a warehouse on a split mortgage?
3) Which original lender and which fund owns it now?
4) How much is the warehoused element?
5) Date the warehoused element becomes payable?
6) What is the active balance on the mortgage?
7) What is the interest rate and what repayment are they making?
8) Age of parents
9) Income of parents.
10) What monthly repayments can they afford now and in the long-term?
Yourself
1) Value of your home
2) Mortgage due on your home
3) How much other assets do you have?
4) Do you have other loans?
5) Your income
6) Your age
7) Are you living in your forever home or might you want to trade up in the future?
8) Age of parents 65 and 63
Are you living in your forever home or might you want to trade up in the future? Plan would be to develop forever home on parents site in the future after inheritance tax
My parents is an old house that requires work but where it is located makes it a prime location increase the overall value.
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