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2 Mortgages ?
Sam911
Posts: 17 Forumite
Hi all, just wondering if anyone can help me out with some information if possible please.
Basically i am currently living in a flat with my brother and his girlfriend, me and my brother are co-owners of the flat and have a shared mortgage. I recently came to an agreement with the 2 of them about signing the mortgage over to them and moving out as the place has been very cramped for 3 people for some time.
We have come to a financial arangement between the 3 of us that we are all happy with, i intend to move out at the end of the month to live with a friend who i will be renting a room from. The 2 of them have just recently started to cover the mortgage between themselves and are allowing me to stay for a period rent free.
A propperty that i was quite interested in has recently had its asking price dropped by rather a substantial amount, from 110k to 80k. I was just wondering what the process would be to apply for a mortgage with a bank whilst im currently on paper allready a half owner of a property ?
I am in a financial position to be able to aquire a mortgage of this size fairly easy, however i wondered if this is possible ?
We are going to see our current lenders this weekend about signing the mortgage over.
Basically i am currently living in a flat with my brother and his girlfriend, me and my brother are co-owners of the flat and have a shared mortgage. I recently came to an agreement with the 2 of them about signing the mortgage over to them and moving out as the place has been very cramped for 3 people for some time.
We have come to a financial arangement between the 3 of us that we are all happy with, i intend to move out at the end of the month to live with a friend who i will be renting a room from. The 2 of them have just recently started to cover the mortgage between themselves and are allowing me to stay for a period rent free.
A propperty that i was quite interested in has recently had its asking price dropped by rather a substantial amount, from 110k to 80k. I was just wondering what the process would be to apply for a mortgage with a bank whilst im currently on paper allready a half owner of a property ?
I am in a financial position to be able to aquire a mortgage of this size fairly easy, however i wondered if this is possible ?
We are going to see our current lenders this weekend about signing the mortgage over.
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