Buying family home with sibling retaining 1/3 share of the property


New Member
Hi all,

I'm hoping someone can help me. Our family home was left to myself and my two siblings after my father passed and I'm looking to get a mortgage to buy one of my siblings out as my other sibling is happy to retain their 1/3 share of the property (which means I don't have to buy them out and can get a smaller mortgage). I've been informed however that banks will not approve my mortgage application if one sibling still owns part of the property. I have discussed this with my sibling and fully intend to out in place legal agreements re ownership etc that should protect the bank from issues here - I've informed my mortgage advisor of this but have been told that a bank still won't approve my mortgage application if I cannot own the property 100%. Is this always the case or has anyone gotten a mortgage in such a situation?


Frequent Poster
The issue from the bank's perspective is that they wouldn't have any real security against the loan. They can't sell 2/3 of the property in the case of you defaulting.