📨 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!

mortage/selling question

Options
I currrently have a house worth around 100k, with a remaining mortgage of 15k.

What I am looking for is advice on selling the property to a family member.  Essentially they would pay me for the property, and I'd pay off my existing 15k and use the value of the property to clear some credit card debts and loans (typically around 20%).

As not all the steps to buying a house are relevant (don't need to do viewings etc) does anyone have any advice or links to usefull guides for this?

Trying to also minimize costs but may have to use a conveyancing solicitor anyway etc.

Comments

  • Edi81
    Edi81 Posts: 1,501 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    You just need your own solicitors to deal with the sale/purchase and repayment of mortgage 
  • user1977
    user1977 Posts: 17,840 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    It's the same as any other sale except you don't need an estate agent to find the buyer. 
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244.1K Work, Benefits & Business
  • 599K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.