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Ask Clare Your Own Question
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34236
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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Our mortage finishes next year , we will not be able to stay

Customer Question

Our mortage finishes next year , we will not be able to stay in our currant property , we will only come out with 130000 , which our daughter has offered to use as a deposit to purchase a property with , my husband is 64 and of poor Health we get help with a mortage payments although it doesn't cover all of it . he does get pip payments will we still be able to get help with our housing .
Submitted: 2 years ago.
Category: Law
Expert:  Nicola-mod replied 2 years ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Expert:  Clare replied 2 years ago.
HiThank you for your questionMy name is ***** ***** I shall do my best to help youHow much is the house worth and how much is outstanding on the mortgage?
Customer: replied 2 years ago.

The house we are in currently is worth in the region of £230,000 we have a mortgage of £101,000 so equity is approx. £129,000 at our ages we cannot get another mortgage, so our daughter suggested buying a property with us moving in to it, as we would only have our pension this in itself would not be enough to service the mortgage but if our daughter owned the property then we would be eligible for topping up from the dept of works and pensions. is this possible?

Expert:  Clare replied 2 years ago.
Have you looked at Equity Release?