We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
eastendannie
eastendannie
Posts: 2 Newbie
Hi, hope someone can help me. Hope I am in the correct forum. I inherited half a house in London, the other half having been inherited by my sister, who lives in another country. Anyway, she has agreed for me to buy her out and I will need to raise the money to do this. Does anyone have any ideas about how I can raise the money? m It will be about 100000 I need to raise.
many thanks
many thanks
0
Comments
-
can you not get a mortgage for your half?
this is exactly the same situation we were in 2 years ago. mr divadee inherited half this house and his sister the other half. we just got a mortgage on the amount we needed to buy her out by. then they treat her as the seller and the mortgage company pay her the money.
HTH, anything else just ask.
0 -
Same happened to me. If you plan to live there its a remortgage (even though you don't have a mortgage on it already you are effectively mortgaging something you already own). Or if you plan to let it out its a buy to let. In both cases you will (presumably) have a big chunk of equity and you'll get a good deal.
My only advice is to get a proper valuation rather than just an estate agents initial visit. My brother still moans about how well I did out of the split and I still reckon I paid him 2K too much. We based the price on three estate agents visits and they all said the same price.
Regards
XXbigman's guide to a happy life.
Eat properly
Sleep properly
Save some money0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards