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Mortgage 50/50 ownership
jonney92
Posts: 20 Forumite
Hello,
I am looking at buying a property in the region of £200k.
My cousin will buy 50% of the property outright, and my dad will give me £50k then I will get the rest around £50k as a mortgage.
I have already spoke to the bank and they would lend me £70k so that's fine. But do I have to tell them about my cousin buying half outright as it's only me who needs the mortgage on the left over of it.
Any ideas? appreciate any help.
I am looking at buying a property in the region of £200k.
My cousin will buy 50% of the property outright, and my dad will give me £50k then I will get the rest around £50k as a mortgage.
I have already spoke to the bank and they would lend me £70k so that's fine. But do I have to tell them about my cousin buying half outright as it's only me who needs the mortgage on the left over of it.
Any ideas? appreciate any help.
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