canthinkname
Registered User
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a family member has died recently and the family home has been left between all of the siblings in different poportions.
One of the siblings has agreed to buy out the other siblings and buy the house for their own use.
They are a first time buyer so I believe that they will have no stamp duty liabilities.
The rest of the family is agreed that one sibling can buy out the others and price has already been agreed, pending probate being finalised.
This sibling will only need either a loan or a mortgage of approximately €30k to do use to buy out the property, do the property up and also have savings available should they need them for emergencies etc
The question is, do the banks give out mortgages for such small amounts. Would this person be better getting a loan for €30k rather than a mortgage.
Would a bank/credit union give this much money for repair works etc.
Has anyone any advice.
thanks
One of the siblings has agreed to buy out the other siblings and buy the house for their own use.
They are a first time buyer so I believe that they will have no stamp duty liabilities.
The rest of the family is agreed that one sibling can buy out the others and price has already been agreed, pending probate being finalised.
This sibling will only need either a loan or a mortgage of approximately €30k to do use to buy out the property, do the property up and also have savings available should they need them for emergencies etc
The question is, do the banks give out mortgages for such small amounts. Would this person be better getting a loan for €30k rather than a mortgage.
Would a bank/credit union give this much money for repair works etc.
Has anyone any advice.
thanks