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3 way mortgage with family
hollowhead
Posts: 464 Forumite
Looking to buy a property with son and daughter. Property has 3 houses on land for £700.000 .Husband and I have £300. 000 deposit. Would it be possible ( they earn enough) to have a £200.000 each mortgage to join in with us? How would it work and where could I get advise ? would we need to included in mortgage? Thanks
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Comments
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If this property is on one title the lending is very complex to arrange and requires the assistance of a good broker.
If the property is on three titles and you are gifting deposit and buying one property each it will be easier.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
Thanks for the info? It is all on one title. Would a seller be able to split it for us? Would it be difficult? Where's the best place to find a broker? Anywhere just for advise?0
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You may be able to split the title three ways as part of the purchase process.
Mortgage brokers are listed here:
https://www.unbiased.co.uk/
Untick the 'only show sponsored results' box on the left hand side in the 'More Filters' section to get a complete list.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
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