mortgaging one half of jointly owned property?

Sep 19, 2006 1 Replies
L

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


Vote
Twitter Facebook LinkedIn
A

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

Vote
Twitter Facebook LinkedIn

Join the Discussion

Have something to add? Share your thoughts — no account required.

Didn't find your answer?

Ask the community — no account required