Topic - Hypothetical Property Question
| by - mypyrex on - 03 Feb 2013
A & B are 67 and 70 years old and live together and have 50-50 ownership (no mortgage) of their property, currently worth circa £250k
B has a son C age 40. He has equity of circa £50k and could raise a mortgage of £75k. For various reasons B wishes to move in with A & B. Thus the three of them could potentially purchase property i.r.o £375K but A & B are too old for a mortgage.
Just wondering if all three can have equal shares in a £375k property with C as sole morgagee?
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