Hi all,
Wanted to some advice or some experienced views on a potential issue...
A mate and I own a house together to which I have more equity in. My girlfriend and I are proabably going to buy him out later this year but here lies my question; my girlfriend is in full time employment but on a 12 month temp contract. prior to this she was at another company on a 12 month contract and prior to that she was in full time employement as an empoyee of a company. This would be her first mortgage. She has a small credit history of credit cards etc but no late payements.
If we were to do a change of borrower with our current mortage provider, would this be an issue or would we need to check into anything first?
FYI, Im in full time employement and in theory 4 x my sal would cover the oustanding mortage.
Mortgage outstanding is approx £210k (25years left)
House value is approx £270 - £280k (conservative est)
Any feedback or advice welcomed!
Cam
Wanted to some advice or some experienced views on a potential issue...
A mate and I own a house together to which I have more equity in. My girlfriend and I are proabably going to buy him out later this year but here lies my question; my girlfriend is in full time employment but on a 12 month temp contract. prior to this she was at another company on a 12 month contract and prior to that she was in full time employement as an empoyee of a company. This would be her first mortgage. She has a small credit history of credit cards etc but no late payements.
If we were to do a change of borrower with our current mortage provider, would this be an issue or would we need to check into anything first?
FYI, Im in full time employement and in theory 4 x my sal would cover the oustanding mortage.
Mortgage outstanding is approx £210k (25years left)
House value is approx £270 - £280k (conservative est)
Any feedback or advice welcomed!
Cam