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Buying partner out

(3 Posts)
OurspoonscamefromWoolworths Sat 03-Nov-12 19:58:37

I am separating from my partner. We have paid the mortgage off so don't have one at the moment. If I want to buy him out, do I have to have a deposit? Any information gratefully received!

Rockchick1984 Sat 03-Nov-12 22:09:40

You don't need a cah deposit, the equity in the property can be used eg if house is worth £100k and you wanted to borrow £52k (£50 for him, £2 for solicitors fees) you would have £48k equity to use in place of a deposit.

OurspoonscamefromWoolworths Sun 04-Nov-12 21:30:48

Thank you rockchick that is really helpful

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