50/50

chungoi

Hiya everyone
I recently lost my dad in april of this year.And the house was left to me and my sister nothing owed on it.Now i have a feeling my sister will not sell her half of the house to me.But she may want to buy my half of the house.My dad before he died asked me if anything happend to him would me and the oh move in.He told me not to say anything too my sister because he didnt want her to move in so i am respecting his wishes.Now nothing has happend since he passed when i ask her she says she wants 12/18 months to decide wot is going to happen to it.Now if she says i can move in[which i dont think she will] would i be able to get a morgage to do alot of work on the house its valued between 80k to 90k.Would i have to let my sister know i am getting a morgage for my half of the house and what is my best options on getting a morgage i am in a dmp with payplan and it finnishes in 2 months time all payed back yippee any ideas would be grateful.Ihope you undrestand wot i have put not vry good at explaining myself

silvercar

Firstly sorry for your loss.

There is an inconsistency between what your Dad actually wrote in his will (that you and your sister get half the house each) and what he said to you (that he wants you to live in the house.

As you own half the property you don't need your sisters permission to move in. If you want a mortgage you will have to have the agreement of your sister. Normally mortgages are taken out in the same name as the property is owned. So you and your sister would need a joint mortgage; which means she woul be jointly liable for the payments.

You don't say if your sister is living in the house now? Or if it is empty?

If you (both) wanted a mortgage the lender would look at your credit history. I guess with a dmp yours is fairly bad, so any mortgage if obtainable would be at a high interest rate. It would also be based on your income.

g_attrill

silvercar wrote: »

Firstly sorry for your loss.
There is an inconsistency between what your Dad actually wrote in his will (that you and your sister get half the house each) and what he said to you (that he wants you to live in the house.

I read it that the father wanted both to have half each, but wanted chungoi to buy his sister out and live in the property, and not sell the half to the sister or both sell it to somebody else.

silvercar wrote: »

Firstly sorry for your loss.
As you own half the property you don't need your sisters permission to move in. If you want a mortgage you will have to have the agreement of your sister. Normally mortgages are taken out in the same name as the property is owned. So you and your sister would need a joint mortgage; which means she woul be jointly liable for the payments.

If he is buying her half and will end up owning the whole house then I doubt the sister would need to be involved in the morgage process at all, other than taking the cash!

silvercar

would i be able to get a morgage to do alot of work on the house its valued between 80k to 90k.

Now I read this sentence as OP wanting a mortgage to pay for work to be done improving the house, not to buy the sister out.