• Buying My Father Out Of His Joint Mortgage With My Mother

    By Guest on 20th May 2019

    Hi,

    My parents have permanently separated and they're not talking, neither can afford to divorce right now or is actively seeking to do so. They have a joint mortgage on a property which my mother is now inhabiting. My father is keen to sell the place but my mother isn't interested and as they have children under 18 can not force the sale. My question is there a way I can buy my father's equity and how would I go about doing this? My hope is I can use it as an investment by paying less than the market value while also freeing up my Dad's equity, while also making everyone feel less hard done by. Many thanks,

  • 1 Answers

    By Guest on 21/05/2019

    A very noble sentiment. Yes, you can providing the lender consents to the transfer of equity (or you can remortgage to another lender who is happy to take you on as joint borrower with your mother). Check with a mortgage adviser such as Vincent Burch mortgages to see what your mortgage options are before you commence the conveyancing process.

    www.notaryexpress.co.uk

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