Buying into a mortgaged property
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Emmasaunders
Posts: 1 Newbie
Hello,
Can I buy into my boyfriend's mortgaged house with my own mortgage? He owes less than half the property value. I'm thinking I could take my own mortgage on the property to pay him half the value. But the rates I'm seeing online for "second mortgages" are punitive. Is it a second mortgage I would need or is that only when one person has two mortgages? Grateful for any tips
Can I buy into my boyfriend's mortgaged house with my own mortgage? He owes less than half the property value. I'm thinking I could take my own mortgage on the property to pay him half the value. But the rates I'm seeing online for "second mortgages" are punitive. Is it a second mortgage I would need or is that only when one person has two mortgages? Grateful for any tips
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