Mortgage Time

crashedandcool

Trying to piece together solicitors,brokers, lenders and want to find some comparison sites and calculators for my situtation. I've inherited equally between two of us house and want to buy the other person out with a mortage. So to look at deals and weight up what repayments would be needed, I need calculators/comparison sites where I can take into account the equity I've inheirited. Technically I'm not re-mortgaging so I don't think I can use those ones.

BarelySentientAI

As far as the calculators are concerned, you're effectively buying the house with 50% deposit.

crashedandcool

Should I putting in the value of the house or the amount I want to borrow? house is worth 250k. I only need to borrow 68k. should I put putting 125k with a deposit of 57k, 250k with a deposit of 182k.

BarelySentientAI

The second.

You want the calculator to know that you are borrowing less than half the price of the house, and the mortgage would be secured on the whole house not half of it.

You are borrowing 68k against a 250k house.

crashedandcool

If you get the same firm of solicitors to represent you for the purchase and the sale should you expect a reduction in fees?

ACG

Have you spoken to a broker? You can let them deal with the research and technicalities and you just accept or refuse the deal recommended.