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Private Lending from the people we are buying from.
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poppysarah wrote: »How long have you been going out? Have you had *that* conversation yet?
haha, yes we have had "that" conversation, we would like to get married but think that we would prefer to try and get on the property ladder 1st then think about saving for a wedding and kids. 3 years we have been together.
We would go through a solicitor and be paying a small interest to her folks. Just not heard anyone who have gone though this sort of agreement before.0 -
How are they funding the deal? Or are you just paying them back bit at a time and there's no lending?
You should each have your own solicitor to ensure you're not being done over. That's 3 lots of fees. you, gf and her parents.
Think about if you split up - what would happen to the debt/house?0 -
Exactly, we would need some kind of contract where all 3 parties would be protected. I trust her parents, they dont need the money from the sale of the property.0
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Exactly, we would need some kind of contract where all 3 parties would be protected. I trust her parents, they dont need the money from the sale of the property.
You could speak to some solicitors about getting quotes for the work. They might give you half hour free advice first.0 -
Have read up on "land contracts" looks like something that is more in use in the states, has anyone ever encountered them before?0
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