Remortgage Question.

alipops1986

Hey Folks,

I am hoping you can help me out. This is the situation.

I bought, in my name, my house about 7 months ago. My parents took out a loan of about 84k, and bought the house for me. I pay the interest on that loan but the house is in my name.

The plan is that i will effectively remortgage and give them their loan back. I have had the house valued at about 95k, so 11k more than i paid for it.

I have done some research and from what i can find, there is nothing available.

Am i right? I guess i'm fortunate in that i'm not necessarily in a rush as i can keep the current arrangement going.

Thanks in advance,
Alipops