Home owner - No one to leave house to!

[Milo]

Hi all,

I'm hoping someone can answer my question and help me out?

Me and my Wife have been married for 10 years and in our mid 30's, we own a property valued around 250k with a mortgage of approximate 100k.

We are currently discussing moving and what we'd be able to borrow, the thing is we have no one to leave our property to when we have both passed so I was wondering if there are any mortgages that take this into consideration?

For example, when we're gone the lender would own the property outright?

Many thanks

[googler]

If you pass away with a mortgage of £100k and a house valued at £250k, my perception is that the mortgage co is entitled to the repayment of their mortgage, not the whole house.

If you pass without specifically leaving a will, and there are truly no beneficiaries to your estate, I believe the balance of your estate, once all debts are settled, including those to the mortgage co., your estate passes to the crown - i.e. the government.

If that doesn't incite you to make a will to give your estate to charity, friends, etc, I don't know what will....