Remortgage to buy ex-partner out of home

rolo-polo1965

I am in the process of looking for a mortgage to buy my ex-partner out of our marital home.

I have seen a mortgage broker today and he recomended abbey on a 5 year fixed rate. 4.99% fixed untill August 2014.

I need to borrow £49,000, on a house valued at £100,000. Over 15 years, payments of £387.23.

The only fee i will have to pay is £35 for telegraphic transfer fee, and £299 for financial advise.

What do you think, it is 25 years since i looked at mortgages and things have changed so much.

Trying_to_be_good

This will be a 'transfer of equity', assuming you already own part of the property and are buying out the other share. This means you need to involve a conveyancer/solicitor, so need another £500 or so for that bill.

If there's no arrangement fee or valuation fee, that's great - presumably the broker already checked your salary/income multiples or affordability, and your credit file (I think I saw you on another thread saying you need to deal with a default notice?)?

Good luck - it's tough going through a break-up, made even tougher when the financial stuff is complex.