Mortgage Help

hunka

Dave_Ham wrote: »

Potentially yes, although it is not 30% loan to value as you will need to include the secured loan and this brings with it all manner of complications.

I am surprised that your late Father's mortgage company have not been on your case to get things sped up.

I assume the legals regarding your Father's death have already been arranged and assume your Brothers do not currently live at this property?

You will need formal help on this case though, as definitely not an easy off the shelf product.

Given the recent nature of your shared defaults, is a move to this home going to help or make push your resources more?

There was no will and no executor. The mortgage company has been fantastic.

No one lives in the property.

The move will get rid of our debt and make us in a far better position.

Yeah, you're right, in total the LTV will be higher when including the homeowner loan, but the mortgage required would be closer to 20-30% and then the home owner loan would go ontop of that - but my fathers house is valued higher than my flat.

hunka

Annisele wrote: »

How are you going to pay the other three beneficiaries the £13.75k or so that they're each entitled to from the sale of your Dad's house?

They get a share if the profit from the sale of my flat and when I'm in a position to get a mortgage to cover both the home loan and the small mortgage, they'll get a share of any excess I can raise.

I'm also going to forgo the small cash savings my father had too.