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Joint Mortgage - transferring one share to a third party?
mattyc77
Posts: 5 Forumite
Hi,
My friend and I bought a flat together on a joint mortgage, each contributing 50%. I would now like my girlfriend to move in with me, and she wants to buy out my friend. Is this possible (if my friend agrees of course)? Can a third party buy out part of a joint mortgage?
Any advice welcome. Thanks!
My friend and I bought a flat together on a joint mortgage, each contributing 50%. I would now like my girlfriend to move in with me, and she wants to buy out my friend. Is this possible (if my friend agrees of course)? Can a third party buy out part of a joint mortgage?
Any advice welcome. Thanks!
0
Comments
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Should be do-able, if your friend is willing to sell and your girlfriend has the income to take on the mortgage. With a complicated situation like this yours it is worthwhile approaching a fees-free mortgage broker.poppy100
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effectively you will need a new mortgage and the normal criteria will apply... LTV, affordability etc.0
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Will be treated like a new mortgage application, hence her status needs to meet with lenders criteria.0
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