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Equity as deposit
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Cormerant
Posts: 1 Newbie
Following a very severe divorce settlement I am at the foot of a very long snake trying to get back on a ladder. I have no deposit but did manage to keep a 1/6th share in my parents property. This share is worth about £30,000.
Am I able to use this equity as a deposit towards purchasing my own property and if so how is the best way to progress this ?
Am I able to use this equity as a deposit towards purchasing my own property and if so how is the best way to progress this ?
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Comments
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Only if someone gives you the money so sell it to the people that own the other 5/6th0
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you need cash for a deposit.
your vendor will expect to be paid the full price which will comprise the mortgage amount plus the deposit.0 -
You will have to release the 30k to use it."Banking establishments are more dangerous than standing armies." Thomas Jefferson
"How can I believe in God when just last week I got my tongue caught in the roller of an electric typewriter?" Woody Allen
Debt Apr 2010 £00
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