Taking Over Remainders of Parents Mortgage

1 post

Hello

To help me get a foot on the property ladder, my parents recently suggested I consider taking over the remainders of their mortgage (which is an amount I can borrow but need to extend the life of the mortgage). This would result is me owning 1/3 of the property and my parents would be mortgage free. They have another property which they would live in and I would live in the property I part-own.

Is this do-able and if so what are the implications, if any?

Thanks