Tenants in Common Set-up
I have found a property but it's too expensive. I don't have the equity to buy this property on my own, but I was thinking of trying to buy it with my nephew. The asset share would be 2/3 me and 1/3 him. Now questions
1. how easily can this be set-up ? I'm thinking a Tenants in Common arrangement due to the legal interest not being equally dividied.
2. Who sets it up ? Solicitors ? Accountants ?
3. Getting the bank loan. How do the banks look at this ? who keeps the title if we use different banks ?
Thanks
I have found a property but it's too expensive. I don't have the equity to buy this property on my own, but I was thinking of trying to buy it with my nephew. The asset share would be 2/3 me and 1/3 him. Now questions
1. how easily can this be set-up ? I'm thinking a Tenants in Common arrangement due to the legal interest not being equally dividied.
2. Who sets it up ? Solicitors ? Accountants ?
3. Getting the bank loan. How do the banks look at this ? who keeps the title if we use different banks ?
Thanks
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