How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Aston Lawyer Your Own Question
Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10773
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
16368554
Type Your Law Question Here...
Aston Lawyer is online now

My 2 brothers and I inherited a property in 2009 after the

This answer was rated:
★ ★ ★ ★ ★

My 2 brothers and I inherited a property in 2009 after the death of our mother, can one of us apply for a secured loan against the property, (there is no mortgage on the property), without the consent of the others? Can we equity release? The deeds are in our 3 names, our ages are 51, 49 and 48 (don't know if that matters), I live in the property, also my younger brother lives here at the moment also. Thanks Tania
Aston Lawyer

Hi Tania,

Have the Deeds been updated to show that all 3 of you are now the legal owners of the property?

Kind Regards

Al

Ask Your Own Law Question
Customer: replied 7 months ago.
Deeds have been in all our names since 2009/2010
Customer: replied 7 months ago.
I dont want to talk openly on the phone, happy to carry on here
Customer: replied 7 months ago.
Hello!
Customer: replied 7 months ago.
HELLO! anyone there!

Hello, I am sorry for the delay! Would you prefer to speak on the phone?

Al

Ask Your Own Law Question

I am on my way home from work, so will be online from just after 7pm if you want to chat here or on the phone. Whichever is easier for you.

Kind Regards

Al

Ask Your Own Law Question
Customer: replied 7 months ago.
Sorry just a little stressed at the moment, happy to carry on talking on here. Thanks

N​o worries, thanks.

Well, as the property is in your 3 names, all 3 of you would have to apply for any Mortgage jointly. This is because a Mortgage Lender will only grant a Mortgage or Equity release to ALL the legal owners, as opposed to say 2 of 3 of the legal owners.

Please let me know if you require any more information. Kind Regards Al

Ask Your Own Law Question
Customer: replied 7 months ago.
Could just one of us use the property as security for a loan?

Hi Tania, I'm afraid not- all 3 of you would need to be party to any Mortgage.

Kind Regards Al

Ask Your Own Law Question
Customer: replied 7 months ago.
OK. can't think of anything else I need to ask, thanks for your help Tania

Ok, thanks Tania.

If you could rate my answer in the top right hand corner of your screen, I can then get credited for my time.

Thanks and all the best. Al

Aston Lawyer and other Law Specialists are ready to help you
Ask your own question now