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Getting a mortgage to buy-out the other owners of a shared ownership house


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Hi all, I'm looking for advice on the following. 

I am looking to buy part or all of a house that I share the ownership of with other family members, the house was bought with cash and no mortgage. What sort of mortgage/loan should I be looking for with brokers? Has anyone else here been in this situation and knows what to look for?

Cheers

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Hi, 

This is a fairly straight forward lending request which most lenders would be happy to accommodate. As always, you would need to meet the lenders affordability criteria in your own right. Do be wary as there could be taxes due on the disposal of your family members share. I would recommend speaking with a mortgage broker or financial adviser, this will ensure the process is tax efficient and you get the lowest possible interest rate. 

Financial Planner - Specialist in providing advice to property owners and portfolio landlords - Vouchedfor 2021 Top rated Adviser

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