Buy half an inherited house?

monsterlane

Hi there, I’m just wondering if it’s possible to buy half an inherited house. My grandparents passed away last year and the house has been left to my mum and uncle. My mum has said she’s not bothered about her share but we would have to buy my Uncle Share out would that be possible with a mortgage? Or is it possible to To buy say 70% of the house so we could give her a lump sum? The house is mortgage free.  I’m a complete novice when it comes to the house buying thank you.

paradigital

Of course it’s possible.  I live in what was my mother’s house, which my brother and I inherited in a 50:50 split.

I took out a mortgage for roughly 30% of the properties value to pay out my brother’s half (along with selling my old home).

p00hsticks

It's perfectly possible, but there's a slight complication in that you're not one of the beneficiaries. If you get a mortgage I think you'd need to get your mother to say that she is either giving her share to you (if the death was less than two years ago she cuuld do a deed of variation to pass her share directly on to you from the estate) or selling it to you at a reduced rate.