We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Query on shared mortgages
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?
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.6K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards