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Sisters to share mortgage
emuusee
Posts: 4 Newbie
Help!!
A house has recently become available for my daughters to purchase for about £160K. They have no deposit so the bank of mum and dad are going to remortgage to the sum of £32K (20%), leaving them to find the remaining £128K (80%).
How do they go about this?
Do they have to get a separate mortgage for £64K (40%) each? or do they have to get a joint mortgage?
Any help would be gratefully received.
:question:
A house has recently become available for my daughters to purchase for about £160K. They have no deposit so the bank of mum and dad are going to remortgage to the sum of £32K (20%), leaving them to find the remaining £128K (80%).
How do they go about this?
Do they have to get a separate mortgage for £64K (40%) each? or do they have to get a joint mortgage?
Any help would be gratefully received.
:question:
0
Comments
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Joint mortgage.
And they need an exit plan, when one wants to leave to be with boyfriend/hubbie, at a time when the other one cannot afford to take it on, on their own...Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0
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