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Include relatives on buy to let remortgage

I have buy to let flat valued at 240k, mortgage 107k. My daughter and son in law want to invest in the property and have 25k. I need a lump sum of 70k and want to remortgage and have daughter/son in law on the mortgage and deeds. What share of the flat would they have? Is it based on the value or the mortgage? Thanks for any advice.

Asked on Jun 27 2018, General in Erith | Report content

Answers (1)

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  • Hello John - it would be entirely up to you how you divide the share of the property. It may make sense to split it proportionally or you could potentially look into some kind of trust. I'm not a lawyer and would suggest you approach a good one to figure out the best way to do things. I would also chat to an accountant, especially if you're planning on renting the property out at some stage. All the best

    Answered on Jul 4 2018, Report content

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