Mortgage to by 50% of a house

cam89_2

I'm having trouble getting a straight answer from mortgage providers about my predicament and wondered if someone could help.


I inherited a house that I own jointly with my sister. I now want to buy her half with my fianc!. I originally spoke to Nationwide about this a few months ago. They said it wouldn't be a problem, that I would be able to get a mortgage with little to no deposit due to the fact that I own 50% of it outright, this would act as equity.


I've now arranged a formal appointment with a mortgage advisor and arranged a 'telephone interview' with Nationwide. I have received a phone call today (day before 'telephone interview') stating that I would not be able to apply for a mortgage because a) my fianc! cannot be included on the mortgage due to me already owning 50% and that therefore b) my sole income would not be enough to cover a mortgage on my own.


Does anyone else know any other way around this?


Thanks

betmunch

Ditch Nationwide and use a lender that fits your needs?

kingstreet

Has the property formally passed into your ownership, or is it still owned by the Executors?

This will make quite a difference to how this is best approached.

As an example, if you haven't owned it six months after it passed into your name, many lenders won't lend on it.

I would suggest a broker as your best option to avoid getting tied in knots by people with little experience of such cases in lender branches.