Can I buy my sister's share?

Posted on 18 September 2012 by Glynis

I have inherited a House jointly with my sister. she would like to sell but I would prefer to keep it. It has been valued at £220000. Would I be able to get a mortgage to buy her share of the house. My husband & I own our own property which is not mortgaged. I have a small pension but could let the property.


If you are thinking of letting the property out once you buy it you should read the following question and answer on this website:

Ask the Experts: Can we let our existing property?

Whether or not you can get a mortgage is going to depend on not only the rental income, but also your own annual income from pensions or other sources and your age.  Like residential mortgage lenders the Buy to Let mortgage lenders all have a maximum age, what this means is either you will be able to get a mortgage now, but will have to repay it by the time you are 75, 80 or 90 depending on who you borrow from.

The alternative is to raise the money on your own property, either by a normal residential mortgage or by an Equity Release mortgage.  This would mean that your husband has the joint liability for a debt used to buy you another property and I'm not sure if he would agree to that?

I believe we can help you decide and that you would benefit from speaking to one of our independent mortgage advisers.  Please call 0344 346 3672 and tell the consultant the date and title of your question, they will then be able to help you find the right solution.


Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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