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  • FIRST POST
    • Ka381
    • By Ka381 7th Jan 18, 9:27 PM
    • 1Posts
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    Ka381
    Shared ownership extra borrowing
    • #1
    • 7th Jan 18, 9:27 PM
    Shared ownership extra borrowing 7th Jan 18 at 9:27 PM
    Hi

    We currently have a 50% share worth £165k our mortgage is £78k and we have £30k in debt so we wanted to borrow on our mortgage to clear the debt. We had this agreed with Leeds until we all realised our lease doesnít contain a mortgagee protection clause. We canít find an alternative but I canít believe there is nothing we can do considering weíve made over £60k profit.
    Any advice would be appreciated.
Page 1
    • csgohan4
    • By csgohan4 7th Jan 18, 10:17 PM
    • 4,099 Posts
    • 2,571 Thanks
    csgohan4
    • #2
    • 7th Jan 18, 10:17 PM
    • #2
    • 7th Jan 18, 10:17 PM
    hit the debt free wannabee forums to really hit that debt. That's a lot of debt for only 05 ownership. Consider you will have 100% costs with running a household and repairs from the freeholder
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
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