**Mortgage advise please**

phoenix282007

Hi.

My new wife has a mortgage on the house we both live in. She had the mortgage in her name before we met. I don't have any mortgage.
We are wanting to move house and get a mortgage together. What type of deal would we be looking for? They seem to be grouped into either First time buyers (which I am, but not my wife), or re-mortgage (my wife is, but not me).

Which grouping do we apply under?- Thanks in advance for any advice.

Brad

beecher2

You'll be neither - you aren't first time buyers but you're not remortgaging either. You will either be porting your wife's existing mortgage (if lender allows it and subject to lending criteria) or getting a new mortgage all together. Would your wife have to pay an ERC? I suggest going to a mortgage adviser for help.

phoenix282007

Thanks for advice, no ERC as fixed period of 3 years has lapsed.

mitchaa

What advice do you need?

You sell the house and buy a new 1. The new mortgage will be joint.

Your wife may want to protect her deposit if any as that is hers and not yours (If you were to seperate in the future)