If a property is jointly owned, is it possible for one of the co-owners to take out a mortgage for their half only? (The idea being to release cash for
1 co-owner only).Would the secured aspect of the mortgage apply to the whole property or just the half belonging to the co-owner with the mortgage?
Thanks
Luke
No. Everyone would have to be involved.
Yes, there's only one house and one mortgage really. The shared bit means shared responsibility for the whole damned thing if anything goes wrong.
Andrew McP
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