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advice sought

ssvindicatrix
ssvindicatrix Posts: 8 Forumite
Part of the Furniture Combo Breaker
in Mortgages & endowments
My wife and brother in law own a house mortgage paid, my brother in law wants to sell out and we have agreed a price. My wife wants to buy him out and arrange our two sons to take a mortgage on this properrty, my wife has contacted a local solicitor who has not returned her calls and preliminary checks with a financial advisor have advised that a half mortgage on the house is not available. Has anyone got a course of action we could pursue?

Regards

Comments

  • ACG
    ACG Posts: 24,685 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Your wife wants to buy your brother in law out but wants your 2 kids to take out a mortgage?

    Whoever takes out a mortgage on a property must be the legal owners of the property. So if your wife wants the house, she needs to take out the mortgage.
    I am a Mortgage Adviser
    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.
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    I would find another solicitor, if they don't take your calls before they won't while your buying.
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
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