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Mortgages when someone dies.

My friend lives with her boyfriend and his younger brother. The boyfriends mother also lived there. The mortgage was in her name although the boyfriend paid it. The mother has died and they are not sure what happens to the mortgage or the house. They haven't found a will yet.. the younger brother is 17 and at college. Can my friend and her boyfriend ask the mortgage co to take over the mortgage or will they have to "buy" the house and get a new mortgage?
TIA

SMP Mon 06/10/08 21:58

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Postdog
Tue 07/10/08
05:43

I am no expert, but the younger brother "complicates" things a bit. If the mortgage was in the mothers sole name - irrespective of who was paying - then I am sure that technically it becomes part of her estate and cannot just be taken over by one or the other of her children.

I think you need to see a solicitor or citizens advice as soon as you can.

sammmo
Tue 07/10/08
06:20

the mother should have had life cover insurance to cover the mortgage if she died.. find the policy and pay the mortgage off..

Postdog
Tue 07/10/08
08:51

That isn't necessarilly so - I had a joint mortgage with my mum where I paid the mortgage, but she was too old to get any cover. Had anything happened to me, then it would have ben a different story, as it would have been paid.

R1Geezer
Tue 07/10/08
09:44

The lender will apply their lending criteria to the son, if he qualifies they would probably agree to him taking on the mortgage, assuming of course that he in fact inherits the house. (with or without the younger brother). If he does not qualify the lender can force the sale, if the mortgage is not repaid, ie by taking out a new mortgage.

SMP
Tue 07/10/08
14:14

Question Author

Thank you

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