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    simonjaye's Avatar
    simonjaye Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 13, 2009, 10:18 AM
    Can I add my dad to my mortgage to remortgage but I have bad credit
    I am in a mess with money I have £30k equity in my house I was wondering if I added my dad to the mortgage would it improve my chances of getting a remortgage to get the money to pay off the debt and would it affect his credit rating if I could do it even if all the debt was gone this is the only way I can think of to get myself out of debt apart from going bankruot and losing everything thanks in advance
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Nov 13, 2009, 10:23 AM

    If your dad is willing to co-sign the mortgage it may certainly help you get one, if his credit is good. If you don't pay the mortgage it will adversely affect his credit. Even getting the loan will affect his credit rating, but it may not be adversely.
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