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have a query about buying my brothers house. he wants to sell. I cant buy because of

  • 02-06-2015 10:07pm
    #1
    ohdannyboy
    Registered Users, Registered Users 2 Posts: 9 ✭


    Brother's mortgage- 163k outstanding on variable rate mort, 175k loaned originally, 3/4 yrs ago. property is currently rented, beside parents, but I am now willing to move home and this suits perfect.
    if he gifts me the house, what happens the outstanding mortgage?


Comments

  • #2
    Bank of Ireland: Sarah
    Closed Accounts Posts: 1,640 ✭✭✭Bank of Ireland: Sarah


    ohdannyboy wrote: »
    Brother's mortgage- 163k outstanding on variable rate mort, 175k loaned originally, 3/4 yrs ago. property is currently rented, beside parents, but I am now willing to move home and this suits perfect.
    if he gifts me the house, what happens the outstanding mortgage?
    Hi ohdannyboy,

    Thank you for contacting us here on Boards.

    We would recommend your brother to speak with his mortgage advisor in his branch that he took out the mortgage with and explain to them what you and your brother wish to do. They will be happy to advise on this and also what would be necessary if he wishes to sell the house to you. If your brother has a Bank of Ireland mortgage, he can arrange an appointment to speak with an advisor in his branch at this link.

    Sorry we are unable to help further with this here, however in this instance it would be best to speak with a mortgage advisor.

    Thanks,
    Sarah


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