Can I buy a share in my parents' home – and a flat to rent out?
I will have about £35,000 from the sale of a property and want to make the best of it
Q After a recent separation, my two young children and I have moved back in with my parents whilst I have been selling the property I jointly owned with my ex-partner. We have been living in my parents’ home for about a year and it has been working really well. They are able to help with childcare and they enjoy having me and the children around. The house is large enough for us all and still offers personal space when needed.
My former home is now sold, and as a single mum I think I will struggle to buy a property in the same area as my parents as it is quite affluent and prices are rising rapidly. I will end up with about £35,000 from the sale of my property and I want to make the best of it. My parents and I have come up with a (potentially crazy) idea of me staying long term and mortgaging a small amount to buy a share of their property at market value.Continue reading...