Mortgage on 50:50 inherited property. Anyone done it?

[Ferdinand]

I will be needing a mortgage on the house I am living in, which I did own 50:50 with a parent. The other half has been willed to a family member.

 

Has anyone done this, and are there any complications?

 

Can I just do a mortgage on the whole thing and have it trigger at the same time as the property buyout?

 

I know I'll need to talk to lenders on this. I'm interested in how anyone who has been through the same thing handled it.

 

Clearly a 50%, or 60% for some money to spend on it, is a far better deal than say 80% on my half plus savings.

 

Cheers

Ferdinand