Tenants in Common Mortgages

Tenants in Common Mortgages - are available for two or more mortgage applicants who wish to own specific percentage shares of a property they are purchasing as tenants in Common. On the death of one of the Tenants in Common, the surviving tenant or tenants in common do not automatically receive the deceased tenant's share of the property.

Instead the share of the property belonging to the deceased is considered as part of the deceaseds estate and will be therefore subject to the standard probate process.

For example, two friends can buy a property as Tenants in Common with the first friend owning 90% of the property and the second friend owning the remaining 10% of the property. If the first friend dies, the other friend would not then own 100% of the property. The 90% of the property owned by the first friend would fall into their estate and the probate process.

The alternative form of ownership to Tenants in Common is Joint tenants. Your solicitor should be able to advise on the most suitable mechanism for you.

The choice of whether you own the property as Tenants in Common or Joint tenants will not restrict your access to mortgages and Capital Fortune will be able to advise on the most suitable and affordable mortgage independent of your choice of ownership.

We have listed our current ten lowest rate mortgages below. The details on these mortgages are there for you to search, compare and contrast. As a purchaser looking for a mortgage, we can confirm whether youll be able to qualify for the specific advertised mortgage rates and importantly we will be able to ensure that your mortgage does in fact meet your full needs and requirements.

If you need assistance to arrange a Tenants in Common Mortgage, contact a Capital Fortune Adviser today by calling 0845 3 630 430 or Enquiry Online.