Buy out of shared ownership? PLease HelP!?

robbo1388

Hi all, thanks in advance.
I want to buy out the 25% shared ownership stake in my house but don't know what to do. Halifax (my current lender) would barely lend me the extra to do it. I have 85k mortgage and the extra would probably be 40k, depending on what they'd take into account for the value i've already added, GCH, fitted kitchen, etc..
Has anyone bought out a SO? What valuation was taken into account for fitted kitchen, etc?

I wanted to change to ING for better rates but they would not take on an SO property - even though i was buying them out! Couldn't understand what difference that made.
My current mortgage deal is getting into the better end of the tracker - D'you think i could get a mortgage for the 25% from another lender or would Halifax not let me do that?

Or, could i get a big loan to buy out the 25% and then lump it all together in a new mortgage from another lender? Or is that just thick!?!

Bloody house prices!
Help please, DroWning not WaVing!!

Thanks

lynzpower

hiya
basicaly the top & bottom is how much your lender wil lend you on a mortgage - bearing off what your salary is.

the value of the property doesnt matter really AFAIK its more how much you are allowed to borrow to your earnings.

Id expect that theyd lend you the final 25% when you have bought 25% and paid that off

how much have youpaid off so far?

I also have a SO property and agfain AFAIK theres no way you could have 2 different lenders as if you defualted there would be a bigger battle on who gets to repossess.