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Remortgaging advice

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Hi there guys,

My current situation is that I jointly own a flat worth about 500k in the current market with my dad. The BTL mortgage on it is 258k so approximately 50% equity.

My dad wants out and I would be more than happy to take on his share, however he wants his original 80k share of the deposit back.

Also we have just come out of our five year fixed rate and although the rate is now 5% (down on 6.15% fix) I'm wondering whether we could do better.

So basically I'm looking to remortgage, take a further 80k out of the property to pay off my dad and hopefully get it on a better rate.

Unfortunately my current wage as a jr dr is at odds with a residential mortgage of this size. The rent more than covers the current mortgage payments and should cover those of a larger loan.

Does anyone have any suggestions on who to go to? Would it be best to seek a mortgage advisor and if so does anyone have any good recommendations as I am sure there are a lot of sharks out there.

Many thanks,
Francis
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