shared equity/ownership, rent back advice???

andrewB

Hi, need advice on any of the above or help with my situation. A family member has recentley passed away and has left the estate consisting of cash and property to myself two sisters, Dad and uncle. My Dad who gave his house up in a divorce settlement with my mother some years ago and has rented since wants to buy this property as it was his parents and can see him self retiring there. He is 55 this year has no real capital behind him and would need roughly £130,000 to buy everybody out, which isnt possible on a mortgage, hence his age and limit of monthly outgoings. I've tried researching on the net, not getting too far and found the odd shock story relating to the rent back schemes and shared ownerships. Does anyone know of any reputable companies that deal with this sort of thing, or any other advice on the matter. Thanks guys

getmore4less

I would try to kep it in the family if that would be amicable.

As soon as you go outside, the companies need to make money so drain family resources.

How big a mortgage could he get.

Could any of you defer getting the cash by treating is as an interest free loan or just not need it so kep it as a debt on his future estate.

Any of you could keep a part share for the long term but this would have CGT implications if you did not live there.