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Releasing Equity from Inherited House?

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  • westv
    westv Posts: 6,456 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I had a look at prices and it looks like brother 1 wouldn't have enough from his 1/3 to be able to buy another property (1 or 2 bed flat) for himself without some contribution from the other brothers' shares.  Current property is already in a cheaper part of the SE.
  • MWT
    MWT Posts: 10,273 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    Then we are back to my first answer.

    Brother 2&3 can probably free the largest percentage of their inheritance by joining with brother 1 in purchasing a smaller property for him to occupy and have their portion of the new property recorded and protected with a charge on the deeds. 
  • westv
    westv Posts: 6,456 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    MWT said:
    Then we are back to my first answer.

    True. Will just take time as brother has lived there for over 20 years.
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