Mortgage help... unusual circumstances

[Art0ir]

A family member has to sell their home, clear mortgage (60% of value) and give their partner 40% of the remaining funds.

They need around double that to get a reasonable sized property but due to a change in circumstances will struggle to get a mortgage for the amount (they do however have an income that would cover it from child support payments).

This is where I come in. If I take the funds from the house and apply for a mortgage myself, will there be any difficulty in transferring the house and repayments to the family member in 3-4 years time once they have retrained and have regular earnings?

I can easily afford the repayments for the amount required, credit history is fine. Is there anything else I need to worry about?

I had no intention of even looking at mortgages as I intend to emigrate in a few years, so this is all completely new to me!

[Sarnie]

If you are not intending to live in the house, it's mortgage fraud to say that you will be...........if you will be moving into the property as well, it will be fine.

[Art0ir]

I will be there

[JezHill]

I can't see a problem with this at all. As long as you are living there, do a joint mortgage and a transfer of equity when your family member is able to take the mortgage on in their own name.

Even if you are not living there some lenders will do a "dependants mortgage" subject to circumstances. I am a mortgage broker if you want to pm me.