taking out mortgage on inherited property

2»

Comments

  • Must.stop.spending
    Must.stop.spending Posts: 15 Forumite
    thank you for allthe replies

    unfortunatly selling the properties in my mind is not a great idea.. the flatwill break even if not be in negative equity time i have paid solictor and agents etc so seems pointless selling when renting it would cover mortgage and more?

    affordability isnt really the issue.. problem we have is that without combining our incomes we can not get a big enough mortgage to buy a big enough property. we cant get a joint mortgage due to my credit file..

    so in my mind if i can get straight sort my credit file out then in 2 years or so we could get a mortgage together?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Name Dropper Photogenic First Anniversary First Post
    Must.stop.spending wrote: »
    affordability isnt really the issue..

    Lenders will take a different attitude. As the management of your personal financial affairs suggest otherwise.

    You'd be better selling the inherited property and sorting out the issues you have. To give yourself a clean start. With no mortgage to pay and no debts to service. Should be possible for you to save quickly.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.1K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards