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Selling house to siblings

Hi, house owned by 6 siblings (4 on title deeds, 2 on declaration of trust). 2 siblings live at the house and want to buy the other 4 out. The 2 that want to buy others out are named on the title deeds.

Can we do this without solicitor's? If the 2 siblings are able to get a mortgage, can they just transfer the money to the other's bank accounts? What forms would need completing for the LR?

Many thanks

Comments

  • jonnydeppiwish!
    jonnydeppiwish! Posts: 1,107
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    I might be wrong but pretty sure you need a solicitor to cover the mortgage side of the sale.
    2006 LBM £28,000+ in debt.
    2021 mortgage and debt free, working part time and living the dream
  • user1977
    user1977 Posts: 13,324
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    If the buyers have a mortgage then they'll have solicitors involved (or the lenders will anyway, but generally the buyers will also use the same solicitors).
  • Giddypip
    Giddypip Posts: 128
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    @user1977 @jonnydeppiwish! thanks, will the sellers need solicitors or can we transfer ownership via forms from the LR?
  • user1977
    user1977 Posts: 13,324
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    Giddypip said:
    @user1977 @jonnydeppiwish! thanks, will the sellers need solicitors or can we transfer ownership via forms from the LR?
    Depends on the mood of the lenders and/or their solicitors I expect.
  • gwynlas
    gwynlas Posts: 1,621
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    It should be a straightforward transaction for a solicitor and almost certainly a condition of the mortgage lender as you are transferring ownership for financial gain. The onus will be on the solicitor to ensure that there is no comeback.
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