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Equity from 50% share?
D4nny
Posts: 128 Forumite
Good afternoon, in currently looking for some info on what i can do in my situation.
I currently own 50% of a property said property is mortgage free.
The property is currently rented out and is just in the background so to speak as a retirement fund.
I need to know if possible would i be able to release money from my 50% to then buy another buy to let property and if i can how would this work?
I currently own 50% of a property said property is mortgage free.
The property is currently rented out and is just in the background so to speak as a retirement fund.
I need to know if possible would i be able to release money from my 50% to then buy another buy to let property and if i can how would this work?
0
Comments
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No, you cannot borrow against a share of a property. Across the whole property with the agreement of all owners only.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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