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Shared Mortgage and Tenants in Common
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CharlieJ15420
Posts: 4 Newbie
Hello,
A friend and I want to buy a new-build property in London together with a shared mortgage. We also want to be tenants in common so in the future, if one of our situation changes (want to move in with girlfriend, job location change etc.) then we can sell our share of the house to an external buyer, without the other friend having to sell their half. i.e. either of us are protected with our share if the other wants to move out.
Is this possible to do? To buy a new build property under the help to buy scheme using a shared mortgage but be tenants in common with a 50/50 share?
Many thanks!
A friend and I want to buy a new-build property in London together with a shared mortgage. We also want to be tenants in common so in the future, if one of our situation changes (want to move in with girlfriend, job location change etc.) then we can sell our share of the house to an external buyer, without the other friend having to sell their half. i.e. either of us are protected with our share if the other wants to move out.
Is this possible to do? To buy a new build property under the help to buy scheme using a shared mortgage but be tenants in common with a 50/50 share?
Many thanks!
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