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Hi All,

 

I've got a quick and (at the moment) largely hypothetical question.

 

At some stage in the future, my Mum has suggested that she'd like to change ownership of her home into the names of her children (me and my brother). It avoids any challenges when the time comes, etc. So that's that.

 

My question then is:

 

Would the banks accept a request for equity release given that there is a non-paying tenant, or even take that property into account when mortgaging against other properties? It's unlikely it could count as BTL (without a payment of sorts anyway), but I'm curious to know if there are any possible ways to use the value there to your advantage.

 

To be clear, I think the idea of ramming a load of debt onto your elderly mother's house is a bad one in case of difficulty, but small mortgages to release equity for auction flips, etc would be a more financially efficient equivalent of a bridging loan? Or am I way off track here?

 

Just curious - thanks,

Jamie

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