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'Selling' Percentage of House
Options
Silvafox
Posts: 321 Forumite
Looking at some options at the minute due to a relationship breakdown and one has been brought to light about 'joint equity' or 'selling equity' in a property.
My partner and I currently own and occupy our own house. It's mortgaged and in the UK. Are we able to literally 'sell' a part of the property to an investor? For example: We keep 75% of the property and sell 25% to an investor? Is this possible? Are there any companies ro sites anyone can recommend to look at?
Thanks in advance.
My partner and I currently own and occupy our own house. It's mortgaged and in the UK. Are we able to literally 'sell' a part of the property to an investor? For example: We keep 75% of the property and sell 25% to an investor? Is this possible? Are there any companies ro sites anyone can recommend to look at?
Thanks in advance.
PMA - Positive Mental Attitude
It works for me - you try it!
It works for me - you try it!
0
Comments
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I may be wrong, but I think this sort of thing is usually aimed at retired individuals. In that case they generally sell a percentage of the property to a company, who then have that percentage of the property value on the death of the individual. I'm not aware of plans for younger people, but I'm no expert.0
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Unusual question but AFAIK it's NO, or at least not without the mortgage lenders permission which they won't, IMO, give you because if you default on the mortgage their right to possess the property will be adversely affected.
The lender holds a legal charge over the prop, registered with the land registery, so you wouldn't be able to sell a %, without them knowing.
What's the purpose of selling a % anyway? Relationship breaks down sell the lot and split it both ways. Need to raise money from "unused" equity, remortgage. I'm puzzled at the purpose, please explain?0 -
sell and move on. not worth the complexity nor the grief"enough is a feast"...old Buddist proverb0
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In short, No.
Andy0 -
Thanks for all replies. Its something I was merely pondering, so won't go into details as its a none-starter clearly.
Cheers and Happy New Year to all.PMA - Positive Mental Attitude
It works for me - you try it!0 -
sell 35% to an investor then sell the remaining 75%:think: in future, I'd say that's probably one of the best money making schemes ever:idea:0
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Woby_Tide wrote:sell 35% to an investor then sell the remaining 75%:think: in future, I'd say that's probably one of the best money making schemes ever:idea:
LOL! What an idiot! Didn't realise I'd typed that.....it's amended now...!PMA - Positive Mental Attitude
It works for me - you try it!0
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