trasfer of equity

[baffled1]

I have recently seperated from my husband and would like to buy him out. I can not afford the outstanding mortgage on my own but my parents have offered to loan me some capital. Can I get a mortgage to give my ex his share of the equity and put the remainder towards the mortgage. What costs would be involved and would my parents be named on the deeds and effectively be joint owners?

[ali_alic]

You may still get refused as the capital is via a loan. My mortgage company refused a mortgage in my name only as the extra money was via a loan therefore the equity in the house is not equity as it has a charge on it. ie if there is �40K equity but �20K of that was a loan from your parents then they would have a claim on that �20K, in effect leaving you only with �20K equity.

[baffled1]

Thanks for your reply ali_alic. What if they become tenants in common. I need �180000 to pay off my ex and clear the outstanding mortgage. if they gave me �90000 and I remortgaged for the other �90000 and they are named on the deeds. Is that possible do you know?