Hi all,
I dont know if this is the right place to ask this question, I will also post on Uk legal.
But basically I have a flat thats on a mortgage, I have rented the flat out to my mother in law ever since I have owned it. She is in a positon now financially that she can buy the propert of me and I want to sell it to her at basically the same price as there is left outstanding on the mortgage.
What I wanted to know is there an easier much cost effective way of doing this rather than getting solicitors etc involved?
She has good credit and can get a mortgage easily, but couldnt I just tell my bank that she would like to take over the amount left on the mortgage? Would there also have to be all the usual conveyancing take place as its not enough to attract stamp duty.
Any advice on doing this the most cost and time effective way is greatly appreciated.
Paul.