Hello!
If I intend to buy my ex out, what's the rough process? Does the house need to be valued?
In really simple terms, is it:
We agree the split of equity
I make up the difference plus extra (gift from parent) that brings me up to the amount I can borrow on my own
I apply for mortgage (through my broker - I know the value of having one!)
Does a valuation come into it?
Housing market is moving fast where I am, so I reckon the house will have retained value or gone up, but I'm not sure how that knowledge is applied to this situation.
Thanks!