{"id":139216,"date":"2023-09-18T13:00:20","date_gmt":"2023-09-18T06:00:20","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-bought-a-house-with-my-parents-can-we-get-a-mortgage-to-buy-their-share\/"},"modified":"2023-09-18T13:20:09","modified_gmt":"2023-09-18T06:20:09","slug":"we-bought-a-house-with-my-parents-can-we-get-a-mortgage-to-buy-their-share","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-bought-a-house-with-my-parents-can-we-get-a-mortgage-to-buy-their-share\/","title":{"rendered":"We bought a house with my parents \u2013 can we get a mortgage to buy their share?"},"content":{"rendered":"


\nWe\u2019ve been told that no one would lend to us if they were still living in the property and fear we\u2019re stuckQ My husband and I bought a house with my parents 12 years ago. We own one-third and they own two-thirds. We live together and it is the main home for all of us as well as our children. My husband and I also own a small rental property. Our plan was that as time went on we would buy my parents\u2019 stake. My parents are now in their late 60s and thinking about options for the future including whether they would need a more accessible property and wanting to be able to help my siblings financially. Most of their capital is tied up in the house. At the moment we do not know what their future accommodation needs will be.I inquired with a mortgage broker about taking out a mortgage to buy my parents\u2019 stake in the property. I was told no lender would lend to us if my parents were still living in the property as they would have rights to stay in the house which may compete with the mortgage company\u2019s rights. They also informed me that my husband and I would have to pay stamp duty on the portion of the house we were buying. Continue reading…
\n
\nSource : theguardian.com
\nRead more…We bought a house with my parents \u2013 can we get a mortgage to buy their share?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

We\u2019ve been told that no one would lend to us if they were still living...<\/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-139216","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-Adq","jetpack-related-posts":[{"id":137254,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-cant-get-a-mortgage-to-help-us-buy-a-listed-property-should-we-find-another-way\/","url_meta":{"origin":139216,"position":0},"title":"We can\u2019t get a mortgage to help us buy a listed property. Should we find another way?","date":"June 5, 2023","format":false,"excerpt":"\r The seller failed to get conversion warranty but bought retrospective one, while broker suggested secured loan to usQ My husband and I have recently sold our first home in the south-east and now have \u00a3300,000 in our bank account. We would like to buy a beautiful property farther north\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":128411,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-we-buy-our-shared-ownership-property-outright-and-let-it-out\/","url_meta":{"origin":139216,"position":1},"title":"Can we buy our shared ownership property outright and let it out?","date":"August 1, 2022","format":false,"excerpt":"\r A reader asks if they can secure 100% ownership and get a buy-to-let mortgageQ I am currently living in a shared ownership property that I jointly own with my wife. We have a 25% share of the property which is valued at \u00a382,000. The full value of the property\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":138563,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-we-avoid-stamp-duty-on-a-second-house-if-my-husband-buys-it-in-his-name\/","url_meta":{"origin":139216,"position":2},"title":"Can we avoid stamp duty on a second house if my husband buys it in his name?","date":"July 31, 2023","format":false,"excerpt":"\r I bought a property before we met, which we hope to rent out when we buy a bigger homeQ I bought a house before I met my husband. We now live in this house together but the mortgage is solely in my name. I have almost paid off the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":137434,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/will-i-have-to-switch-to-a-buy-to-let-mortgage-for-a-six-month-sabbatical\/","url_meta":{"origin":139216,"position":3},"title":"Will I have to switch to a buy-to-let mortgage for a six-month sabbatical?","date":"June 19, 2023","format":false,"excerpt":"\r We\u2019re planning a six-month trip so I\u2019d like to rent my flat out while away to cover the billsQ I bought my flat a little over a year ago, and have recently agreed to take a sabbatical with my partner. 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