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need some options, if there are any...
jacel300
Posts: 5 Forumite
right, bit complicated but here goes...
me & 2 friends bought a house together about 5 years ago, with a interest only mortgage on the property.
2 of us owners now live here, with the other owner moved out and renting a property.
he is now looking to buy somewhere else with his new wife and has a mortgage in place ready to go, but he needs to come off this mortgage.
i know we need to remortgage with just the two names but unfortunatly i now have defaults against my name meaning i cant get a mortgage at all, it seems the the only other option seems to be that my other friend remortgages in his name only, meaning that while the other two get houses in there names i get nothing!
i'm just looking for advice really
many thanks
me & 2 friends bought a house together about 5 years ago, with a interest only mortgage on the property.
2 of us owners now live here, with the other owner moved out and renting a property.
he is now looking to buy somewhere else with his new wife and has a mortgage in place ready to go, but he needs to come off this mortgage.
i know we need to remortgage with just the two names but unfortunatly i now have defaults against my name meaning i cant get a mortgage at all, it seems the the only other option seems to be that my other friend remortgages in his name only, meaning that while the other two get houses in there names i get nothing!
i'm just looking for advice really
many thanks
0
Comments
-
Hi,
You might want to post this in the mortgage section, you'll get more help there.0 -
You should still get your share of any equity ...... what did you have drawn up at the time of purchase regarding buying each other out / % split of any profit (or loss) etc etc?Grocery Challenge £211/£455 (01/01-31/03)
2016 Sell: £125/£250
£1,000 Emergency Fund Challenge #78 £3.96 / £1,000Vet Fund: £410.93 / £1,000
Debt free & determined to stay that way!0
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