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loans on shared propertys

mickey
mickey Posts: 8 Forumite
in Loans
hi guys
is there any restrictions on loans againset part owened property.i.e
i have a 50% share and pay rent on the other 50%.

Comments

  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    The part owner would have to agree otherwise their share is diluted and they may miss out if they have to reposses.
    I would imagine that getting permission should not be too difficult especially if there has been an increase in house prices similar to you since you bought it.
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