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How illegal is it.....
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[quote][i]Originally posted by Toby[/i] [quote][i]Originally posted by LiVe LeE[/i] whats your current LTV of the house? I had the same situation; with a particularly nice (read very low) valuation report; she would have owed me money if we sold, bearing in mind the 6months of fucking about and her none contributions to the mortgage for 8 months total. Then the mortgage providers valued it much higher which benefitted me with the size of the capital payment I had to make to bring the LTV below 85% [/quote] Well current LTV is about 24%. I got my desposit by selling shares to my mum, but we never transfered them into her name so i told my ex that its a loan and that would be included if we sold. This combined with the mortgage and selling fees means we owe about £135k, we will never get that poss £130k at a push but limited by Stamp duty - my estate agents said it was worth £125k (;)) so all she is owed if i buy her out is half the equity paid off the mortgage which as we are 18 months through a 3 year deal we have paid pretty much only interest. [quote][i]Originally posted by Ben G[/i] i don't think it's legal, but if your house burned down, you wouldn't get any money back if the insurance company found out you hadn't declared it. [/quote] I would take landlands insurance so would be covered there and also Nationwide are cool with renting it out. Just need to find out if they will let me keep the mortgage on my own or if i need help [Edited on 20-01-2011 by Toby] [/quote]
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