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Family House Swap/Inheritance Advice
Worried_Comrade
Posts: 28 Forumite
Hi All,
Apologies for the thread title but I really had to idea what to call it or even if it was to go in this section. Hopefully someone can help or at least point me in the right direction.
It’s all a bit complicated but here goes...
So, our current situation is I have my own mortgage on a house I paid £78.5k on and have £50k left to pay but I’m about to move house.
My Mother and Father are selling their house, that has been valued around £120k to move into mine. They have £33k left to pay on their mortgage that will be cleared with the sale.
They will also give my brother £10k
They’ll then allow me to pay off my mortgage and use the rest (minus all the fees) for mortgage deposit and renovation the new house.
We’re all confused on how it (my old house) will be all be divided equally and fairly when God for bid they do pass away.
Can anyone else make sense of it all and help us??
Sorry if I’ve not made sense with any of the above but my head is mincemeat
Apologies for the thread title but I really had to idea what to call it or even if it was to go in this section. Hopefully someone can help or at least point me in the right direction.
It’s all a bit complicated but here goes...
So, our current situation is I have my own mortgage on a house I paid £78.5k on and have £50k left to pay but I’m about to move house.
My Mother and Father are selling their house, that has been valued around £120k to move into mine. They have £33k left to pay on their mortgage that will be cleared with the sale.
They will also give my brother £10k
They’ll then allow me to pay off my mortgage and use the rest (minus all the fees) for mortgage deposit and renovation the new house.
We’re all confused on how it (my old house) will be all be divided equally and fairly when God for bid they do pass away.
Can anyone else make sense of it all and help us??
Sorry if I’ve not made sense with any of the above but my head is mincemeat
0
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