Hi,
My parents have a home which they bought as in investment property some years ago. They owe nothing on the property and are encouraging me to buy the property off them. The value is currently around €300-€350k.
I only qualify for a mortgage of €200k so can't buy them out. does anyone know about a 'tenancy in common' purchase, where i can go about buying a share in the house? ie, i buy 1/3 off them and they own the other 2/3 ?
Has anyone first hand experience of this, either as a buyer or from the legal viewpoint?
Thanks
My parents have a home which they bought as in investment property some years ago. They owe nothing on the property and are encouraging me to buy the property off them. The value is currently around €300-€350k.
I only qualify for a mortgage of €200k so can't buy them out. does anyone know about a 'tenancy in common' purchase, where i can go about buying a share in the house? ie, i buy 1/3 off them and they own the other 2/3 ?
Has anyone first hand experience of this, either as a buyer or from the legal viewpoint?
Thanks