Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Looking to buy shares of a house

Options
  • 29-06-2013 2:56pm
    #1
    matt-dublin
    Registered Users Posts: 4,468 ✭✭✭


    Quick question all.

    some of our relatives inherited a house several years back between four siblings.

    we're potentially looking to buy two of the siblings shares from them and co-own with the other two.

    the four share owners are all blood relatives but looking for options here.

    presumably we could look to get a 50% ltv mortgage on the property to buy the two shares and then the other share owners would not have to do anything. Listing all fours of us on the deeds (no debt on the house currently)?

    then ideally when we're in a position to we would look to buy the other two shares of the house when we sell another property we have?

    any advice is much appreciated.


Comments

  • Options
    #2
    StillWaters
    Closed Accounts Posts: 1,799 ✭✭✭StillWaters


    Can't see a bank giving a mortgage on a 50% stake in a property. How would they securitise it?


  • Options
    #3
    matt-dublin
    Registered Users Posts: 4,468 ✭✭✭matt-dublin


    i suppose it would have to be mortgage between the 4 parties to purchase the other half with a contract that only two of the parties pay the mortgage?


  • Options
    #4
    StillWaters
    Closed Accounts Posts: 1,799 ✭✭✭StillWaters


    matt-dublin wrote: »
    i suppose it would have to be mortgage between the 4 parties to purchase the other half with a contract that only two of the parties pay the mortgage?

    I have never heard of a 4 party mortgage. I really don't think this is a goer. Why would the 2 in situ go for this in any case, they would be nuts!


  • Options
    #5
    matt-dublin
    Registered Users Posts: 4,468 ✭✭✭matt-dublin


    forget about the two in situ assume they've agreed. what are the options


  • Options
    #6
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Personal term loan. You'll pay well above the odds in interest- but you're not going to get a mortgage on this.


  • Advertisement
Advertisement