B
bobsouthside
Guest
Hi,
I own a small apartment with about 100K in equity (owned for 2 yrs). My girlfriend owns a 3 bed with approx 200K in equity (owned for 6 years). We want to buy a second-hand property in a new area for c. 550K with some improvements requried. We are trying to decide what to do, keep my property, sell hers and use the equity in the new house etc. Any advice on what we'd be liable for etc would be appreciated. Would we be better off selling both and putting all the equity into our new place?
My second question relates to what arrangement we should come to in relation to our new house. She has twice the amount of equity than I have. Are there any typical formulas that can be used to protect her extra contribution?
Thanks,
Bob.
I own a small apartment with about 100K in equity (owned for 2 yrs). My girlfriend owns a 3 bed with approx 200K in equity (owned for 6 years). We want to buy a second-hand property in a new area for c. 550K with some improvements requried. We are trying to decide what to do, keep my property, sell hers and use the equity in the new house etc. Any advice on what we'd be liable for etc would be appreciated. Would we be better off selling both and putting all the equity into our new place?
My second question relates to what arrangement we should come to in relation to our new house. She has twice the amount of equity than I have. Are there any typical formulas that can be used to protect her extra contribution?
Thanks,
Bob.