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Mortgage for buy out
leegemma900
Posts: 3 Newbie
Hi, I inhertited 12.5% of the property I am currently living in and paying rent to the other owners. However, I am wanting to buy the property and own 100%. When applying for a mortgage, can I use the 12.5% towards my LTV and have a mortage for 87.5% or do I need physical cash? It is all very confusing as to me, I am already own some of the property.
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Comments
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Yes you can.
It's your equity in the property.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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