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Query on shared mortgages
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casati678
Posts: 1 Newbie
I would like to buy 20% of a property from a friend as an investment.
There are two other owners who each own 40% outright (ie. no borrowing).
I've tried a few mortgage companies to see if I can borrow the £130, 000 for the share, but even companies that specialise in shared mortgages seem reluctant to lend as the other two owners cannot be expected to take the hit if I default on my payments.
I can't help but feel this should be pretty straightforward to sort.
Can someone recommend a broker/company who might be willing to sort the problem & lend?
There are two other owners who each own 40% outright (ie. no borrowing).
I've tried a few mortgage companies to see if I can borrow the £130, 000 for the share, but even companies that specialise in shared mortgages seem reluctant to lend as the other two owners cannot be expected to take the hit if I default on my payments.
I can't help but feel this should be pretty straightforward to sort.
Can someone recommend a broker/company who might be willing to sort the problem & lend?
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