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Shared ownership with Tenant
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BM_Surrey
Posts: 4 Newbie
Does anyone know whether there is a Mortgage provider that might consider lending on 50% ownership of a property? I would like to sell 50% of my buy-to-let property to my tenants. This would enable me to pay off my mortgage, charge my tenants half the rent they are currently paying and I would keep a 50% share in the property.
0
Comments
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No there isn't.
Lenders (and a limited number at that) are only prepared to enter such shared ownership agreements with recognised housing associations as it can be a bit of a legal minefield.
With a bit of careful thinking you wouldn't have thought the problems insurmountable to a lender and perhaps in the future there may be someone willing to lend on this basis. It would certainly prove popular.
Regards0
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