bruce wayne
Registered User
- Messages
- 38
not sure if this should be in the tax or motgages section, but basically my brother is in the process of buying his ex wife out of the family home. They have agreed a price, but he will need to top up on the mortgage to fund it. not a huge amount maybe 30-40K, the problem is this will take him over the threshold the bank will allow him to hold the morgage in his own name (based on earnings etc), so he either needs to find the funds elsewhere or I need to go in on the mortgage with him.
Now heres the issue, if I just go guarantor the application will not be a strong, so therefore I need to make a joint application with him to give the application its best shot.
The questions are,
1. is there a stamp duty implicaiton on this ? He is refinancing his own home, but I'm buying into it?
2. if you are refinancig your own home (in his case), are there the usuall solicitors fees, valuation fees etc ? If there are we'll need to factor these in.
Neither of us are first time buyers, I have my own home/mortgage which I share with my wife. Is there anything else we should be looking out for.
thanks
B
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Now heres the issue, if I just go guarantor the application will not be a strong, so therefore I need to make a joint application with him to give the application its best shot.
The questions are,
1. is there a stamp duty implicaiton on this ? He is refinancing his own home, but I'm buying into it?
2. if you are refinancig your own home (in his case), are there the usuall solicitors fees, valuation fees etc ? If there are we'll need to factor these in.
Neither of us are first time buyers, I have my own home/mortgage which I share with my wife. Is there anything else we should be looking out for.
thanks
B
*