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About kingston_dan

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  1. Well there is actually 3 interest only mortgages! There is another one on a 1 bed flat which he also let out but it is currently vacant. I do not think there is any equity in the third property so i was just going to put it in the auction to get rid of it as quickly as possible. I didn't mention the third property to try and keep it more simple. I also have to find more details on the third property because i believe this one was originally purchased via right to buy so there is a chance there is some kind of insurance on it. When the dust settles i presume she will be entitled to some be
  2. Hi, Thanks for reading! 1. The mortgages are with birmingham midshire (the one she lives in) and J.P. Morgan (The one which is rented out). As far as i know Birmingham midshire do not offer residential mortgages. 2. There is about 20 years left on them both 3. He had no life insurance - a typical i am 30 and nothing bad will happen but it did. 4. Yes, they were both taken out as buy-to-let interest only mortgages. Obviously they shouldn't have been living in the house with that type of mortgage. 5. His wife could quite easily afford a repayment mortgage but has no income history fo
  3. Hi, I have found myself in a bit of a difficult situation. I will try the simple description and hope there is some advice! My 31 year old friend died about a month ago and i was named as the execuator on his will which leaves everything to his wife (who has a 1 year old baby). Most of his assets are straight forward to deal with but he owned two properties which are going to cause some problems! Both properties are on interest only buy-to-let mortgages but him his wife and baby lived in one of the properties and the other is let out to tennants. The property that is lived
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