Hi People
I am new to the forum but looking for some advice.
Partner and i are splitting up, we jointly own our property and we are married.
Current mortgage amount stands at 81000 and early repayment fees at 1650.
I am in the process of getting the house valued but i think roughly they will say the house is worth 110,000 and we would take 105,000.
My partner wants to buy me out and will need to finance the buyout and i believe a remortgage would be an option?
He told me he has spoken to our current lender halifax who said we cant remortgage because we havent paid of a minimum of 20% or because it was in the first 2 years of the mortgage.
I suspect if we sold the house minus any debts i would be due about 9000. Other than a remortgage i guess a loan is the only option other than selling the house and splitting any leftovers.
Has anyone been through this process than can give me any advice on how to move this on quickly and what the complications are of remortgaging and removing myself from the deeds?
Id prefer not to go through solicitors unless i really have to and my partner agrees we both cant afford to rack up huge bills as we have no savings.
Thanks people
I am new to the forum but looking for some advice.
Partner and i are splitting up, we jointly own our property and we are married.
Current mortgage amount stands at 81000 and early repayment fees at 1650.
I am in the process of getting the house valued but i think roughly they will say the house is worth 110,000 and we would take 105,000.
My partner wants to buy me out and will need to finance the buyout and i believe a remortgage would be an option?
He told me he has spoken to our current lender halifax who said we cant remortgage because we havent paid of a minimum of 20% or because it was in the first 2 years of the mortgage.
I suspect if we sold the house minus any debts i would be due about 9000. Other than a remortgage i guess a loan is the only option other than selling the house and splitting any leftovers.
Has anyone been through this process than can give me any advice on how to move this on quickly and what the complications are of remortgaging and removing myself from the deeds?
Id prefer not to go through solicitors unless i really have to and my partner agrees we both cant afford to rack up huge bills as we have no savings.
Thanks people