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Re Mortgage + Adding Partners Name advice
g0atface
Posts: 8 Forumite
Hi,
I purchased a property november last year to renovate and I currently have a mortgage with Leeds BS - SVR @ 5.5%
im halfway through the reonvation (kicthen, bathroom, 2 (out of 4) bedrooms, 1 of the living rooms, plumbing, full rewire etc all done) and My property value is around 85k (froom Zoopla) and i have 67k O/S on the mortgage - looking take 6k of equity to finish the renovation thats been going on over the past year.
The kicker is i would like to add my partners name to the mortage - Leeds have said its £195 fee + conveyancing costs, Is the simple alternative to remortgage to get the equity and add my partners name as part of the process?
Thanks
g0atface
I purchased a property november last year to renovate and I currently have a mortgage with Leeds BS - SVR @ 5.5%
im halfway through the reonvation (kicthen, bathroom, 2 (out of 4) bedrooms, 1 of the living rooms, plumbing, full rewire etc all done) and My property value is around 85k (froom Zoopla) and i have 67k O/S on the mortgage - looking take 6k of equity to finish the renovation thats been going on over the past year.
The kicker is i would like to add my partners name to the mortage - Leeds have said its £195 fee + conveyancing costs, Is the simple alternative to remortgage to get the equity and add my partners name as part of the process?
Thanks
g0atface
0
Comments
-
you would have to pay for the extra legal work involved in the change of ownership even on a "free legals" remortgage but it would certainly be worth a lookHappily an ex mortgage broker!0
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