Hi All,
My brother and I currently own a house together (it was willed to us by our late parents). My brother is considering buying out my share of the house but would need to take out a mortgage to do so. He's single and would therefore be applying for a mortgage on his own. He is 28, has been in constant employment since leaving school and would have a small amount of savings behind him. Does the fact that he already owns half the house that he's looking for a mortgage on give him an advantage in applying for a mortgage or will he find it as hard to get money as everyone else at the moment?
My brother and I currently own a house together (it was willed to us by our late parents). My brother is considering buying out my share of the house but would need to take out a mortgage to do so. He's single and would therefore be applying for a mortgage on his own. He is 28, has been in constant employment since leaving school and would have a small amount of savings behind him. Does the fact that he already owns half the house that he's looking for a mortgage on give him an advantage in applying for a mortgage or will he find it as hard to get money as everyone else at the moment?