I assume you mean 60k outstanding on the 'business loan". As it wasn't a residential property mortgage, presumably there was no life insurance policy in place to pay off the outstanding loan on your father's death.My father and his mate ... borrowed 100k punt as a business loan as he was to old to get a mortgage ... there is roughly 60k euro left on the mortage and the house is valued at 250k ...
As described above, half the value of the house, less half the outstanding loan and half of the ownership transfer costs (legal fees, land registry costs, conveyancing, etc.) with any stamp duty and CGT being his own responsibility (as it wasn't his PPR).... 1. How much is my Dad's mate entitled to ?...
Apply for a mortgage on the property or sell it.... 2. how can i use the equity on the house to free up money ? ...
As described above, half the value of the house, less half the outstanding loan and half of the ownership transfer costs (legal fees, land registry costs, conveyancing, etc.) with any stamp duty and CGT being his own responsibility (as it wasn't his PPR).
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As described above, half the value of the house, less half the outstanding loan and half of the ownership transfer costs (legal fees, land registry costs, conveyancing, etc.) with any stamp duty and CGT being his own responsibility (as it wasn't his PPR).
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