{"id":110435,"date":"2019-09-02T14:48:38","date_gmt":"2019-09-02T07:48:38","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/a-friend-lent-me-a-mortgage-deposit-how-much-do-i-owe-him-now\/"},"modified":"2019-09-02T15:05:32","modified_gmt":"2019-09-02T08:05:32","slug":"a-friend-lent-me-a-mortgage-deposit-how-much-do-i-owe-him-now","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/a-friend-lent-me-a-mortgage-deposit-how-much-do-i-owe-him-now\/","title":{"rendered":"A friend lent me a mortgage deposit \u2013 how much do I owe him now?"},"content":{"rendered":"


\nHe gave me \u00a310,000 towards the \u00a3250,000 property in 2006, but it\u2019s now worth \u00a3450,000Q In 2006 I bought a house for \u00a3250,000 with an interest-only mortgage. I have made occasional overpayments so the outstanding loan is \u00a3200,000 (still interest-only). The value of the house is now \u00a3450,000. A friend paid the cash deposit of \u00a310,000 as an investment when I bought the house. He has lived in the house since then and has been paying me \u00a3330 a month in rent. He now wants the money he invested back plus any gain he has made from the house going up in value. How do I work out what I owe him? I am not intending to sell the house.MCA When your friend invested \u00a310,000 in your house back in 2006, his contribution to the purchase was 4% of the purchase price (10,000 divided by 250,000 times 100). So to work out what you owe him, you simply take 4% of its current value of \u00a3450,000 which means paying him \u00a318,000. To be scrupulously fair to your friend, you might want to get an estate agent of his choice to value the property to ensure that he agrees what the house is worth and so what he can expect to get back. Continue reading…
\n
\nSource : theguardian.com
\nRead more…A friend lent me a mortgage deposit \u2013 how much do I owe him now?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

He gave me \u00a310,000 towards the \u00a3250,000 property in 2006, but it\u2019s now worth \u00a3450,000Q...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-110435","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-sJd","jetpack-related-posts":[{"id":139874,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-have-10000-left-after-a-house-move-should-we-save-it-or-overpay-the-mortgage\/","url_meta":{"origin":110435,"position":0},"title":"We have \u00a310,000 left after a house move \u2013 should we save it or overpay the mortgage?","date":"October 16, 2023","format":false,"excerpt":"\r I think overpaying our loan won\u2019t affect our monthly repayment as we\u2019re on a two-year trackerQ After a recent house move we have about \u00a310,000 in savings left over. 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I have some spare cash\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1745,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/david-camerons-10000-mortgage-deposit-claim-put-to-the-test\/","url_meta":{"origin":110435,"position":2},"title":"David Cameron's \u00a310,000 mortgage deposit claim put to the test","date":"January 16, 2016","format":false,"excerpt":"\r In PMQs, the Prime Minister claimed that only \u00a310,000 is needed for a deposit on a typical home. Telegraph Money provides a fact check\r \r Source : telegraph.co.uk\r Read more...David Cameron's \u00a310,000 mortgage deposit claim put to the test","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":185,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-we-remortgage-to-pay-off-the-equity-loan-on-our-home\/","url_meta":{"origin":110435,"position":3},"title":"Can we remortgage to pay off the equity loan on our home?","date":"November 5, 2015","format":false,"excerpt":"\r Property prices are rising so my fiance and I would like to pay off our Help to Buy loan but are unsure whether a remortgage is the best way to do thisQ My fiance and I have a joint mortgage on a new-build home in Scotland. 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