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Buying out share equity of property - anyone done it?
Mrs_S_10
Posts: 6 Forumite
Hi,
We have a shared equity property which the developer has 25% equity share. We would ideally like to buy them out. We have tenants in the property which both the developer and our mortgage provider agreed too. We have consent to let from both. We would like to buy the developers share out and swap our mortgage to a BTL.
So my question is - Has anyone bought out an equity share? What was the process like? Also can we use a loan to do this as we wont have the full 25%?
Thanks.
We have a shared equity property which the developer has 25% equity share. We would ideally like to buy them out. We have tenants in the property which both the developer and our mortgage provider agreed too. We have consent to let from both. We would like to buy the developers share out and swap our mortgage to a BTL.
So my question is - Has anyone bought out an equity share? What was the process like? Also can we use a loan to do this as we wont have the full 25%?
Thanks.
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Comments
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this is the second time iv posted a thread on this forum with lots of views but not one single reply!0
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You are asking a very specific question. It's possible no one has yet done what you are considering.Has anyone bought out an equity share? What was the process like? Also can we use a loan to do this as we wont have the full 25%?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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