Hi,

Need advice on whether this is possible.

I have recently suffered the loss of my mother and it has been a very difficult time for all the family. She has left her house to me and my sister. The house is worth est. £140k. Neither of us want it sold, but neither of us want anyone else to live ther yet. So, we have agreed me and my wife live there.

I would like to be able to give my sister something by purchasing her half of the house, giving her a lump sum for deposit to buy a new home.

I have a lot of debt and on a DMP. I have no CCJs / IVA or Bankrupsy, just not good credit rating.

Wat are the chances of me getting a mortgage around 80% LTV to buy my sisters half of the property and consolidate depts from equity i already own in the propery?

Anyone have any advice?

You could remortgage it 6 months after the property has been in your name but not before. The chances of you getting 80% out of it will be determined by your credit score and your provable gross annual income.

Anthony
http://www.comparethemortgagemarket.com