Reasonable amount to remove name of a mortgage?

pjcox2005

Has your friend been contributing to the interest only mortgage without living there (I'm presuming you do).


If that was mean I'd want some return on the payments made. The house may not have gone up yet but has potential to and likewise you've received a benefit living there which he has helped with plus lost out on rent.


I think a goodwill gesture of £1-£2k may be more appropriate.

Thrugelmir

foxy-stoat wrote: »

You still need to find £17,500 cash plus legal fees, assuming your mate will sign the property over to you....assuming you want to pay £103,000 for a property that is worth £95,000.

I'm guessing that the OP is still living in the property. Clearing negative plus the costs of buying and selling to be considered. Then there's saving for a deposit while potentially renting.

Bigsmokeuk

My friend hasn't contributed to any of the mortgage interest payments for about 5 years, we rented the place out for two and then my wife and I moved in for the last 3 years and have paid all bills be it mortgage interest (even though it's small) rates, ground rent etc