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Take over someone mortgage

Take over someone mortgage

Old Feb 4th 2019, 5:10 pm
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Default Take over someone mortgage

Has any one got a mortgage there looking for someone to take over in spain.im very interested in doing so thank you
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Old Feb 12th 2019, 2:05 am
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Default Re: Take over someone mortgage

Originally Posted by Mrbnb
Has any one got a mortgage there looking for someone to take over in spain.im very interested in doing so thank you
More information please. What are you trying to achieve?
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Old Feb 12th 2019, 6:56 pm
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Default Re: Take over someone mortgage

I’m not sure that it is as simple As taking over someone’s mortgage. Surely the mortgage lender will want to do the same lenders checks, involve solicitors, and all the gubbins that goes with raising a mortgage.
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Old Feb 12th 2019, 7:50 pm
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Default Re: Take over someone mortgage

Originally Posted by spouse of scouse
More information please. What are you trying to achieve?
they are probably looking to buy a house without going through a bank. ie; without all the red tape. I´ve seen it with cars - the cars for sale for 150/month for 10 years etc - taking over the finance.

Risky if its going to stay in the first owners name ?
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Old Feb 12th 2019, 8:00 pm
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Default Re: Take over someone mortgage

Originally Posted by Monkey104
I’m not sure that it is as simple As taking over someone’s mortgage. Surely the mortgage lender will want to do the same lenders checks, involve solicitors, and all the gubbins that goes with raising a mortgage.
Some countries allowable "assumable" mortgages, under some circumstances, where a new borrower takes on responsibility for a previously issued mortgage loan. I am not aware that Spain has any assumable mortgages, but it is possible. And you are right, the person assuming the mortgage would have to go through all the checks before the mortgage was transferred to the new borrower.
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