Just saw in her Stories that she is definitely looking at the house I suspected on the old thread. A quick reference on the floor plans....
How is she going to afford that and pay off her parents without getting a new mortgage?
Yes you are right. I also notice how she has taken that story down now.
I really believe there is no mortgage. She has said in a video that the developer purchased their parent’s previous property & I wouldn’t be surprised if it was part ex & they agreed to let MBB & co live with them to save a deposit to move on into her own place down the line.
Honestly if that was my daughter with 2 kids & needed to live with me to get on the property ladder I wouldn’t be adverse, but I would expect her to actually save money & I would expect their share of the ultility bills.
The only thing this doesn’t explain is why she is desperate to sell. But, maybe that is an act for content-selling houses brings in viewers & actually her parents are selling up & downsizing.
Having no mortgage yet explains why she has become obsessed with budgeting videos, what I spent this month & she keeps saying a 15% deposit will be a stretch for them. If you have a mortgage, why does that matter as surely you invest as much equity as possible into the next place.
Finally no mortgage lender would have 2 mortgages on one property or a mortgage where someone else has a share in the property, it doesn’t exist. It MBB didn’t keep up her mortgage payments then the lender has no way of recouperating those lost costs by selling the house why only technically is only half MBB’s.
She will end up renting. Blatantly she hasn’t saved enough money living with her parents, getting a mortgage in these times is really difficult-she’s said she doesn’t have great credit, has been victim to identity theft AND has been on furlough. No real sensible purchaser goes to buy a house when your history looks like that.