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
Buying property as tenant in common, single applicant mortgage (not joint)
BobFreeman
Posts: 17 Forumite
I am looking to sell 50% of my house to my tenant as tenant in common. I dont need mortgage to do that. But everything I google gives "joint applicants mortgage".
What if only one party in 50/50 split needs mortgage? Whats it called and how realistic is to get one currently? Any advice?
What if only one party in 50/50 split needs mortgage? Whats it called and how realistic is to get one currently? Any advice?
0
Comments
-
You can have one person on the mortgage with two owners. You cannot mortgage half the property - the Lender cannot repossess half.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.1 -
so if that person defaults on his payments i will have to pay his mortgage and then spend years trying to get the money back from him? thats an interesting scenario
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.6K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards