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Transfer of Equity as split from partner. Help, Advise needed!!
tinagemma
Posts: 2 Newbie
Me and my now ex partner have split up and he has offered to sign the house/mortgage over to me. I am more than happy to take on the house but i really dont think i will be able to afford it. Is there a way i can change the mortage or anything i can do so i can afford it?. Please help!
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Comments
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You ex cannot sign the loan over to you without the lenders permission. You have to prove to them you can afford the loan.0
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I have an appointment on tuesday with my mortgage lender to discuss the term of 'transfer of equity'. All i would like to knw is if there are other ways around it so i can decrease my monthly payments?. I would be able to afford my payments but it would be a really big struggle. Would i be able to rent the rooms with me living there and keep the same mortgage?0
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you can keep the mortgage and rent rooms as long as you let your lender know, most are agreeable to that.
for transfer of equity quotes try googling transfer of equity quotes for a competitive price for sols0 -
Is it a repayment mortgage? You could ask your lender if you could increase the term - that would reduce the payments, but increase the total amount you pay back over the life of the mortgage.0
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