We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
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.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We are joint beneficiaries and the other
beneficiary will be buying my half. So naturally I would want the price
to be market value and not below. But i think the other party will
expect the price to be probate value. I am also executor. So a mortgage
lender will just provide a mortgage for half the market value?
The mortgage lender will provide a mortgage for £150k or whatever is
requested. They will calculate the LTV as a percentage of the market
value. But won't care what percentage of the property that 150k is buying - only that the purchaser will own the whole at the end.
Some cases of buying at a discount can give rise to capital gains tax and stamp duty complications though - is the property in both of your names as beneficiaries or still with with the executors?
But a banker, engaged at enormous expense,
Had the whole of their cash in his care. Lewis Carroll
