Buyout advice

lordthanatos

Hi all. So my partner has a shared house with her ex ( shared mortgage). He is keen to sell the property to get his money back. Now i know my partner can do a buyout. But we are wanting to do this together in terms of affordability. Would this be then a remortgage under both our names?  Most advice online just points to just buying out togally rather than transfeing that share to someone else.  Any advice would.be amazing before i seek an advisors advice . 

hilalm84

thanks for sharing..

[Deleted User]

Has your partner agreed to pay her ex an amount for his share of the equity ? 

What you want to do is transfer house from A ( him ) and B( her ) to B (her ) and C ( you ) 
You two just need to be sure you both pass affordability for the new mortgage for the house and to pay off A. House and mortgage become yours and hers

Its not a particularly complicated scenario and quite common. 

There may well be some stamp duty payable depending on the figures and outside of the SD holiday. 

lordthanatos

Heya. So looking at things there isnt any equity based on current value (slight drop) .  Thats good to hear its not complicated. Trying to organise a mortgage appt once know exact figures etc . Thanks again