• Part Sale Of Our Flat To Parents

    By Guest on 23rd Jun 2017

    We currently own a London flat. We are looking to buy a second home outside of London and then let out our flat. We will be taking our a new residential mortgage for the new purchase and request a tenancy request from our current mortgage lender for our existing flat mortgage to permit us to let the property for the next 12 months.

    To release some equity from the flat we wish to sell part of it (25%) to my parents who have cash. Is this possible while we have an existing mortgage (circa 50% ltv) in place. We need to do this to give us the extra equity required to put down on the new purchase.

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