Loan against Equity in House

Are you really willing to take a chance on your mother's pension? But if you are earning much more, why can't you lend yourself the cash against the real estate you want to buy? While I appreciate that everyone is doing well and that your mom and dad want to help their children, you also have to put yourself at stake - not just your own mom, and have a "moral obligation" - remember that your house would be in danger.

When the apartment is £120K and you are spending £10K doing it up (juggle as appropriate), your interest, contingent and charges the other will £10K up - so what you really need (assuming you are earning £25K gross between you) is a 4xmortgage (interest only probably) for £100K, then you will need the other £40K - not £140K............

• while not endangering your mother's house. I would suggest, with charges added in, it may be better to consider that unprotected between the three of you if you are serious - it also keeps the exposure to your mom smaller. - it is possible with the best will in the world let an architect simply force his vision on a regular apartment and make it unsaleable if he is not cautious ( but he will not agree - it is always everyone else who is wrong)...........

Well, good luck, but think hard about the risk to you and your mom......