Long time browser but this is my first post. I will try and keep as brief as possible.
I have a very good long term tracker deal with Barclays, 1.39% above base that was taken out in 2008. Due to house price falls the house is worth approximately the same as the outstanding mortgage so no equity worth talking about.
Here is where it gets complicated. My partner is moving in with me and will contribute equally to all household bills and mortgage costs etc. She wants (and so do I want for her) to have any benefit in price increases say in 5 or 10 years time should we sell or split up. Hopefully will not happen but better to have things right from the outset.
I do not want to remortgage to put her name on the deeds as I will definitely not get 1.39% above base. Plus to get an attractive deal would involve paying money off current mortgage to bring loan to value down.
Is it possible that barclays would add her to the existing mortgage without losing the deal I am currently on. If so what is involved in this process.
Or as a second thought can the mortgage stay in my name but something legal can be drawn up to protect my partner's share in any price increase should we sell or split down the line.
Appreciate your time for reading and thank you for any info you provide.
I have a very good long term tracker deal with Barclays, 1.39% above base that was taken out in 2008. Due to house price falls the house is worth approximately the same as the outstanding mortgage so no equity worth talking about.
Here is where it gets complicated. My partner is moving in with me and will contribute equally to all household bills and mortgage costs etc. She wants (and so do I want for her) to have any benefit in price increases say in 5 or 10 years time should we sell or split up. Hopefully will not happen but better to have things right from the outset.
I do not want to remortgage to put her name on the deeds as I will definitely not get 1.39% above base. Plus to get an attractive deal would involve paying money off current mortgage to bring loan to value down.
Is it possible that barclays would add her to the existing mortgage without losing the deal I am currently on. If so what is involved in this process.
Or as a second thought can the mortgage stay in my name but something legal can be drawn up to protect my partner's share in any price increase should we sell or split down the line.
Appreciate your time for reading and thank you for any info you provide.