How do I buy someone out of a house with no mortgage?

[BearFacedCheekGrylls]

I want to buy ex out of my house but there is no mortgage. Is this possible?

Er, of course. You just give him the money for the house, or whatever proportion of the house you don't currently own. You don't need a house to have an existing mortgage on it to buy it.

If you have sufficient income you can raise a mortgage in order to buy him out - doesn't matter if there's not one already in place.

Do you mean that you have enough cash to pay him half the current market valuation so that you don’t need a mortgage?

Or are you both currently mortgage free? Do you need a mortgage? If so, you would qualify as a first time buyer.

I probably have enough to buy him out without borrowing anything but I’d have no savings left, no safety net and unlikely to build up any more.

Is it simply a case of getting a mortgage to pay him off?

Yes. It's like buying any house; the only real difference is that you're buying it off your ex and presumably already own part of it.

Half of your savings are technically his, same as his saving are half yours.

If he agrees to let you buy him out of the house then you can, either with cash you already have or a mortgage if you can get one. He can push for the house to be sold if he wants though.

Sorry, I’ve assumed you’re married.

You get 3 valuations from 3 different estate agents, agree on the middle value and take out a mortgage for your half. Do it all via solicitors so you have an auditable trail

If you have the cash to pay for half the house then you don’t need a mortgage. Just a family solicitor.

If you want to keep some cash savings back then yes you will need a mortgage to buy him out. Check with a mortgage broker.

Thanks all

My husband will have funds to buy my half of our house We are mortgage free I would rather we sell do I have to let him buy me out