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we have agreed a property value of £290k and my brother has applied for a mortgage of £145k to buy out my half. There are other cash assets (approx 80K) but we prefer to spit these rather than offset them against the value of his portion of the house. Sarah
Thank you Clare,
you mention that on paper the assets will be offset as it is more appropriate for my brother to purchase the property from the estate. In reality he would like a mortgage at half the value of the house (145K) to buy me out - and to keep half the value of the other assets (cash) for his own purposes - will this still be possible? In other words - my brother would not wish to buy more than half the house on paper as he does not want a mortgage for more than half the value. Sarah