Shared Appreciation Mortgage

Hi, I am dealing with a probate estate where the deceased took out a “shared appreciation” mortgage of about £40,000 back in 2000 (ish). He then proceeded to pay off the loan and in December 2021 when he died the balance stood at £17,230. The mortgage is with the Bank of Scotland .

The shared appreciation part comes to £192,750, which means the estate has to pay back £210,000.

This seems unbelievable to me and I wonder if this arrangement can be challenged in any way?

Has anyone dealt with anything similar and could offer any advice or where I could obtain further help.

Any thoughts, welcome please.
Thanks, Gill

Gill, google shared+appreciation+mortgage+bank+of+scotland.

Malcolm Finney

I want to make sure I understand the situation correctly: the deceased took out a £40,000 mortgage, paid it off, and then the estate is being asked to pay back £210,000, which includes £192,750 in shared appreciation.

Please tell me what the outcome of this shared appreciation mortgage was.