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
Mortgage 50/50 ownership
jonney92
Posts: 21 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.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards