Inherited house - buying out the other parties.

Asianchick

Hi

I have inherited a third of my dad's house and am thinking of buying the others out.

How do I go about this? Is there a special type of mortgage for this?

Thanks

ViolaLass

You need a mortgage for 2/3 of the price agreed with the other two minus any deposit you want to put in. Unless you want to rent it out, in whcih case you'd need a buy to let mortgage, then there's nothing special needed.

Dan_1976

You need a good broker. If the valuation holds up you may not have to put any of you money. Halifax and a few others would do this no probs. I think you have to be past the probate period etc and actually own the property.

Asianchick

I actually don't plan to put any of my money in. I would like to use my 1/3 and as deposit to buy the whole house.

Is this better or worse than trying to save some more money and buy the 2/3rds?

Dan_1976

Depends how long it will take to save it. If you can get the money together ina yeah save, if not borrow.